lean hog futures trade idea
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from June 9th.
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The simple definition for an “outside day” is when the day’s high is higher than the previous days high and the day’s low is lower than previous day’s low.
If BOTH these things happen and the market settles at either of these 2 points (above the previous day’s high or below the previous day’s low), this is most often taken as a sign that the market is poised to make a move in that direction.
July LEAN HOGS:
Possible OUTSIDE DAY LOWER setting up after this morning’s early rally was rejected…
The last trade is 86.40 If we break below 86.00, getting short may provide a great opportunity.
a 50% retracement puts this market at 83.25, which is also old resistance!
Futures Traders: Look to sell a break below 86.00 and risk above the highs roughly 2.00 ($800.00)
Options Traders: Look to the July 86.00 put for 2.10 ($820.00)
Check out the July Lean Hogs chart:
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