I try to follow the meat complex but get distracted by other markets. Hogs and Cattle, since November were apparently the markets to follow and, for some reason, I haven't tracked them. Hogs have made an incredible run since mid November and could be at a pause point. How they open this coming week should add clarity if there is more to the correction underway or not. The question is can this market make it back to 80's or higher. On the daily renko chart with blksz set to 1, price is now at the 200EMA and the 2hr and 5Min are showing a correction underway.
On the 2hr, the charcoal box is what the 5min expands out to and the red box is where the buy signal was triggered had I been paying attention.
On the 2hr, the charcoal box is what the 5min expands out to and the red box is where the buy signal was triggered had I been paying attention.