Hog Futures Technical Analysis | Hog Futures Trading: 2021-09-13 | IFCM
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Hog Futures Technical Analysis - Hog Futures Trading: 2021-09-13

Lean Hog Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 78.99

Sell Stop

Above 88.36

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2452
IndicatorSignal
RSI Buy
MACD Sell
Donchian Channel Sell
MA(200) Sell
Fractals Neutral
Parabolic SAR Sell

Lean Hog Chart Analysis

Lean Hog Chart Analysis

Lean Hog Technical Analysis

The #C-LHOG technical analysis of the price chart on daily timeframe shows #C-LHOG,D1 is testing the resistance turned support line below the 200-day moving average MA(200), which is rising still. We believe the bearish momentum will continue as the price breaches below the lower Donchian boundary at 78.99. A pending order to buy can be placed below that level. The stop loss can be placed above 88.36. After placing the order, the stop loss is to be moved every day to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (88.36) without reaching the order (78.99), 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 continues falling as Chinese pork imports fell in August. Will the LHOG retreat continue?

China imported 758,000 metric tons (MT) of meat (including offal) in August. That was down 11.2% from July and 8.9% compared with August 2020. Accounting for the first eight months of this year, Chinese meat imports totaled nearly 6.7 million MT, up 1.7% versus the same period last year. China is the second largest pork importing country in the world after Japan. Total slaughter numbers in the first six months of 2021 in Japan were up 1.4 percent from 2020. Higher domestic pork supply translates into lower pork import which is bearish 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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