Hog Futures Technical Analysis | Hog Futures Trading: 2020-02-20 | IFCM
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Hog Futures Technical Analysis - Hog Futures Trading: 2020-02-20

Lean Hog Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 69

Buy Stop

Below 62.9

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2451
IndicatorSignal
RSI Neutral
MACD Buy
Donchian Channel Buy
MA(200) Sell
Fractals Buy
Parabolic SAR Buy

Lean Hog Chart Analysis

Lean Hog Chart Analysis

Lean Hog Technical Analysis

On the daily timeframe #C-LHOG: D1 is rising toward the 200-day moving average MA(200), which is falling. We believe the bullish momentum will continue as the price breaches above the upper Donchian boundary at 69. A pending order to buy can be placed above that level. The stop loss can be placed below 62.9. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (62.9) without reaching the order (69), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Commodities - Lean Hog

Lean hog price is rising after decline following signing of interim US-China trade deal. Will the LHOG continue rising?

The US-China Phase 1 trade agreement went into effect last week as was stipulated - 30 days after signing the deal on January 15. Under the deal, China agreed to buy $32 billion in additional imports of US farm products, including soybeans and pork. Pork prices in China last week neared a record set in 2019 after measures to stop the coronavirus epidemic disrupted the transportation of pigs and the restart of slaughtering plants. Lean hog price has reversed the downtrend which continued after the signing of the phase one US-China trade deal. These are bullish for LHOG. However, U.S Department of Agriculture reported pork shipments to China totaled 13,000 tons in the week ended February 6, down from 16,200 tons shipped a week earlier. Slow shipments to China are a downside risk 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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