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Since the Fdate is now 2 trading days old, I post this for those who may
be short this market.
Note the attached chart segment of October Hogs. Coming down off the top
made 2 trading days back, the question is where it may find support.
I submit two 'possibilities'.
1) At 71.90. This is indicated by the parallel line on the chart. This
successfully closes the gap made a few weeks back.
2) 71.40. This is based on the formation calculator on a formation that
has affected the last major top and a few other turns. It seems to be a
reliable formation.
These two are 50 points apart or around $200. It is my opinion that Hogs
will react to one of these two price levels.
Cheers!
:)
rick
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