Trading Idea - Lean Hog, 05-03-2024 | IFCM Hong Kong
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Trading Idea - Lean Hog, 05-03-2024

Trading Idea - Lean Hog, 05-03-2024

Trading Signal: #C-LHOG

OrderSell
DirectionRange Bound
PatternTrading in flag pattern
IntervalDaily
Length (Candles)17

Idea Summary


The medium term Lean Hog price forecast is bearish. The LHOG price is testing the resistance of flag chart pattern above the 200-day moving average MA(200) after breaching above Fibonacci 61.8 level. Most likely the price will reflect off the resistance and fall while there is a likelihood it may breach above the resistance and continue rising.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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