

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.
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
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