Lean Hog Price Bias Is Still Bullish | IFCM
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Lean Hog Price Bias Is Still Bullish

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The #C-LHOG price forecast in our September 3, 2020 technical analysis was bullish.

  • Market developments after #C-LHOG,Daily September 3, 2020 technical analysis still indicate bullish bias.
  1. #C-LHOG,Daily closed 4.2% higher on September 4.
  2. China’s pork demand is expected to remain high as its pork output fell 20% in the first half of the year.

Here is what indicators show as of September 7, 2020:

  • The Parabolic Indicator gives a bullish signal.
  • The Donchian channel indicates uptrend: it is widening up.
  • The MACD indicator gives a bullish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fractals give a bullish signal.
  • The MA(200) Indicator gives a bullish signal.

So the bullish forecast still stands for the #C-LHOG,Daily.

OrderBUY
Buy stopAbove 59.06
Stop lossBelow 53.56

Reuters September 7, 2020 report.

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