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Lean Hog Price Bias Is Still Bearish
The #C-LHOG price forecast in our June 12, 2020 technical analysis was bearish.
- Market data after #C-LHOG,Daily June 12, 2020 technical analysis still indicate bearish bias.
- #C-LHOG,Daily closed 0.9% lower over day on June 12, 2020.
- 2020 pork production is estimated at 100.4% of 2019 levels.
Here is what indicators show as of June 15, 2020:
- The Parabolic Indicator gives a bearish signal.
- The Donchian channel indicates downtrend: it is narrowing down.
- The MACD indicator gives a bearish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give bearish signal.
- The MA(50) Indicator gives a bearish signal.
So the bearish forecast still stands for the #C-LHOG,Daily.
Order | SELL |
Sell stop | Below 51.38 |
Stop loss | Above 55.71 |
USDA World Agricultural Supply and Demand Estimates June report
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