I Am Bullish Hog Prices

I Am Bullish Hog Prices
I Am Bullish Hog Prices

Hog Futures—Hog futures in the February contract is currently trading lower by 20 points at 69.30 as I have been recommending a bullish position from around the 69.60 level and if you took that trade continue to place the stop loss under the contract low which was hit on August 5th at 63.67 as an exit strategy.

The volatility at the current time is high and I don’t think that’s going to change anytime soon so if you are involved in this trade make sure that you risk 2% of your account balance as the proper money management technique as we are experiencing many 300 point up and down days.

Hog prices are trading above their 20 day but still below their 100 day moving average as the trend is higher to mixed, however I do believe that the fundamental situation has changed due to the fact that we now have a phase 1 trade agreement with China as the agricultural markets across the board look bullish as we head into 2020.

In my opinion I believe the risk/reward is in your favor as the downside is limited as we continually bounce off that 65 level as there is finally some optimism for the U.S farmer as I also think the grain market will head higher so continue to play this to the upside.

TREND: HIGHER–MIXED

CHART STRUCTURE: SOLID

VOLATILITY: HIGH

 

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

 

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