Pork: Bears still in control of the “other white meat”

Market Pulse for March 25

Technicals

 

On the daily chart you can see this is a very strong trend down with ADX at 56.3. MACD is just riding below the signal line with no divergence and Stochastics are in oversold territory.

Click to enlarge.

 

On the weekly chart we see a very strong trend down and weekly Stochastics are in oversold territory. And check out how big money has pushed down hog prices with an increasing bearish posture into this past Friday’s report. This bear posture started developing at the end of January 2013 and early February 2013.

Have a prosperous trading week.

To read my market views daily you can follow me on Twitter at http://twitter.com/TrendsinFutures

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