Hog Futures Technical Analysis | Hog Futures Trading: 2020-06-12 | IFCM India
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Hog Futures Technical Analysis - Hog Futures Trading: 2020-06-12

Lean Hog Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 51.37

Sell Stop

Above 56.92

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2451
IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(50) Sell
Fractals Sell
Parabolic SAR Sell

Lean Hog Chart Analysis

Lean Hog Chart Analysis

Lean Hog Technical Analysis

On the daily timeframe #C-LHOG: D1 has breached below the 50-day moving average MA(50), which is falling itself. We believe the bearish momentum will continue as the price breaches below 51.37. A pending order to sell can be placed below that level. The stop loss can be placed above 56.92. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Commodities - Lean Hog

US pork supply is increasing with the resumption of operation of US meat processing plants. Will the lean hog price continue falling?

Pork supply is recovering gradually as meat plants across US ramp up production following slowdowns after coronavirus outbreak. Meatpackers slaughtered 450,000 hogs on Monday, up from 417,000 a week ago according to US Department of Agriculture. However, in March they slaughtered up to 498,000 a day. And farmers still have a backlog of livestock after animals could not be slaughtered due to temporarily shut slaughterhouses during the coronavirus outbreak. The number of livestock being killed each day has rebounded from April and May, increasing the supply of pork. Rising pork supply is bearish for LHOG.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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