CommodityTrends Weekly Newsletter
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View the trade opportunities and commodity markets Jim is watching to see where the markets may be headed.
Summary
Lean Hogs Market Breakdown
Lean Hog prices have been moving higher over the last three months—up 8.80%!
Because of this recent strength, I decided to take a closer look using a top-down analysis.
In this week’s Training Video, I break it all down step by step. First, I start with the monthly chart, then zoom into the weekly chart, and finally, take a deep dive into the daily chart. There’s a lot going on in this market, and I cover it all!
Click here to watch the video. (You must be logged into the website to access it.)
Markets I'm Watching
View the trade opportunities and markets Jim is watching along with the Trend Seeker rating per commodity to see where the market is headed. Here are the markets and opportunities I am watching right now. For more information about these markets, be sure to check My Chart Book and CommodityTrends Daily Video Service.
Grains Market
Jul Rough Rice produced a 1-2-3 bottom formation. An entry to the upside was triggered on May 16. The stop loss can now be moved to below the June 05 low. The initial target is the bottom of the blue daily resistance zone near the 13.685 level.
Jul Rough Rice produced a 1-2-3 bottom formation. An entry to the upside was triggered on May 16. The stop loss can now be moved to below the June 05 low. The initial target is the bottom of the blue daily resistance zone near the 13.685 level.
Energies Market
Last week I wrote. . . Jul ULSD NY Harbor has developed a second #2 point. Keep watching for a second #3 point to take shape and a possible long entry.
A second #3 point did form via the low on May 30 (confirmed on June 02). A long entry could have been taken on June 03 when price broke above the June 02 high. The initial stop loss can now be placed just below the June 04 low. The initial target is the green horizontal line at 2.1531 (drawn off the close of the #2 point).
Last week I wrote. . . Jul ULSD NY Harbor has developed a second #2 point. Keep watching for a second #3 point to take shape and a possible long entry.
A second #3 point did form via the low on May 30 (confirmed on June 02). A long entry could have been taken on June 03 when price broke above the June 02 high. The initial stop loss can now be placed just below the June 04 low. The initial target is the green horizontal line at 2.1531 (drawn off the close of the #2 point).
Financials Market
Sep 30-Year T-Bond has established both a #1 and a #2 bottom point. Keep watching for all of 1-2-3 strategy criteria to be fulfilled.
Sep 30-Year T-Bond has established both a #1 and a #2 bottom point. Keep watching for all of 1-2-3 strategy criteria to be fulfilled.
Foods/Softs Market
Jul Cotton #2 has produced a large 1-2-3 bottom formation. A break above today's high will trigger a long entry as early as the next trading session. The initial stop loss can be placed just below the #3 point.The initial target is the blue horizontal "cut-through" trend line at 67.96.
Jul Cotton #2 has produced a large 1-2-3 bottom formation. A break above today's high will trigger a long entry as early as the next trading session. The initial stop loss can be placed just below the #3 point.The initial target is the blue horizontal "cut-through" trend line at 67.96.
Foods/Softs Market
Oct Sugar #11 is close to forming a new #1 bottom point—a break below the January 21, 2025 low would confirm it. If that happens, I'll start monitoring for a potential 1-2-3 bottom formation. For now, I'm staying on the sidelines.
Oct Sugar #11 is close to forming a new #1 bottom point—a break below the January 21, 2025 low would confirm it. If that happens, I'll start monitoring for a potential 1-2-3 bottom formation. For now, I'm staying on the sidelines.