Support and Resistance Trading Forum

Re: August Lean Hogs *PIC*
By:Alan C.
Date: Thursday, 25 June 2009, 2:22 am
In Response To: Re: August Lean Hogs *PIC* (Alan C.)

Well, my guess for Wednesday was wrong. For some reason, price dropped below my dashed-line expectation of support, although it did close near that support. This reprehensible behavior must be one of the reasons why it's not easy to call market turns! RSI is now approaching an up trendline and, closely below that, a down trendline. Whether that portends a bounce and resumption of the recent ill-fated rally or no bounce and resumption of the longer-term price downtrend remains to be seen.

Responses To This Message

Re: August Lean Hogs
Deadlydoggy -- Saturday, 27 June 2009, 3:30 am
Re: August Lean Hogs
blu -- Thursday, 25 June 2009, 8:16 pm
ONLINE COMMODITIES TRADING