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Hog Futures Technical Analysis - Hog Futures Trading: 2022-03-07
Lean Hog Technical Analysis Summary
Below 101,5
Sell Stop
Above 113,5
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Lean Hog Chart Analysis
Lean Hog Technical Analysis
On the daily timeframe, LHOG: D1 went down from the Head and Shoulders pattern. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if LHOG: D1 drops below its most recent low of 101.5. This level can be used as an entry point. Initial risk cap possible above latest up fractal, high since June 2021 and Parabolic signal: 113.5. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal high. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (113.5) without activating the order (101.5), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Lean Hog
Pork exports to the US have declined. Will the LHOG quotes downswing continue?
According to the United States Department of Agriculture (USDA), in January-February of this year, American pork exports amounted to 236.3 thousand tons. This is 22% less than in the same period in 2021. Theoretically, this may be a consequence of a decrease in demand for meat in European countries due to the unstable economic and political situation against the backdrop of the crisis in Ukraine. At the same time, according to the USDA, the American pig population as of December 1, 2021 amounted to 74.2 million heads. This is only 4% less than the level on the same date in 2020. It should be noted that the price of cattle meat also fell in the USA. This may also be a consequence of reduced European demand. An additional factor in the possible decline in prices for all commodities is the emerging strengthening of the US dollar.
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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.
