July Lean Hogs had a couple of days of craziness and seems to have settled down a little after H&S fall. It has met the 74.225 H&S target, and crashed through that today. Left a good strong bar down. Next downside target at 72.45, and double bottom at 67. New setup is a bullish butterfly.
Catatan
Hogs continues its downward decent. Looking for 72.40 next target. Because of the candle made today, caution should be noted. Equal ends of the candle suggests a pull both ways by bulls and bears. RSI is oversold.Catatan
Hogs down again. Moving toward 72.40Catatan
Another step down for hogs breaking 72.40 and closing in on the bullish butterfly at 71.500. After that we would be into a butterfly extension.Catatan
Hogs has created a bearish flag yesterday and is trying to sell to complete Bullish butterfly. Next downside target is 73.00
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