Looking To Buy Hogs !

Looking To Buy Hogs !
Looking To Buy Hogs !

Pigs being funny looking like they are singing

Hog Futures—Hog futures in the February contract settled lower for the 3rd consecutive session down another 65 points at 69.12 or 0.93% dropping  over 300 points in the last 3 trading sessions due to overbought conditions in my opinion.

At the current time I’m not involved, but if you have been following my blogs you understand that I think hog prices look to move higher in my opinion, but prices still look extended as the risk/reward is not in your favor at this time to take a bullish position as I will wait for some type of price retracement back down to the 67.50 level.

Hog prices are trading far above their 20 and 100 day moving average as prices have rallied about 15% over the last couple of weeks as the volatility certainly has expanded and that situation is going to increase tremendously in the next couple weeks as prices topped out with a possible double top around the 72 level, however I do not believe that’s the case as I just think this is based on profit taking so look for an entry point to the upside. 

TREND:HIGHER

CHART STRUCTURE: POOR

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 

 

TWITTER—@seeryfutures 

 

 Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com 

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.