Lean Hogs

(HEM24) 
June

The high on 4/10/24 hit not only 61.8% (107.70) on the June continuation chart, but the 109.10 major Gann square. 

We had warned our Premium Members that a trade above 107.70 that hit the 109.10 major Gann square and then closed back below could cause a sharp setback. In just 3 trading days it is $7.00 so far. We are looking for more on the downside.

Below is our latest update for June Hogs.

On the chart you can see all the Fibonacci retracements that held as well as the major Gann squares.

June

4/8/24
From Special Update,

The rally above the 103.91 major Gann square has now hit 61.8% based on the continuation chart at 107.70.
 

Use 107.70 as the swing point for the week.

Above it, one thing to watch for is, a trade above 107.70 that hits 109.10 and then closes below 107.70 as this can cause a sharp setback. A failure to turn lower from this area will give us a new long term target of 78.6% based on the continuation chart at 116.50.

There was one close above 107.70 (61.8%), it then traded above the 109.10 major Gann square and closed well below 107.70. As mentioned by doing this we think it can have a sharp selloff, however we will be watching all the retracements to see just how weak, or strong the market is.

4/11/24

Use 107.70 as the swing point for the week again.

Above it, a failure to turn lower from this area will give us a new long term target of 78.6% based on the continuation chart at 116.50. There is one major Gann square before then to watch for resistance at 114.30.

Below it, with 107.70 being 61.8% the long term target will be 61.8% the other way at 96.00 based on the ONE44 61.8% rule. The short term target is 38.2% back to the 1/2/24 low at 101.10. Any setback that holds the area of 23.6% at 104.50 and the 109.91 major Gann square keeps the trend extremely positive and new highs can follow.

We have done 39 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines.

This is our latest.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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