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Lean Hog Price Bias Is Still Bullish
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.
- #C-LHOG,Daily closed 4.2% higher on September 4.
- 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.
Order | BUY |
Buy stop | Above 59.06 |
Stop loss | Below 53.56 |
Reuters September 7, 2020 report.
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