Lean Hogs Dip and Cattle Rip

Live Cattle (June)

Live cattle are finally getting the “springboard” recovery that many were growing tired of waiting for (including us). The conviction move about our pivot pocket sparked a continuation towards our resistance pocket from 117.15-117.85. This will now act as the new pivot pocket. If the Bulls can continue to defend this pocket, we could see a continuation towards 119.825-120.35..........Click this link to read the FULL report and receive our daily commentary

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Feeder Cattle (August)

Feeder cattle were sharply higher yesterday, thanks in large part to the sharp selloff in grain futures. Grains are recovering in the early morning trade, which may put a headwind back into the cattle complex. Technical support, pivot, and resistance remains intact from yesterday’s report. The Bears have control of the technical landscape so long as they continue to defend the 150 mark..........Click this link to read the FULL report and receive our daily commentary

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Previous Session Bias:

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Lean Hogs (June)

June lean hogs were sharply lower yesterday but managed to finish off the lows. The early morning bid/offer is showing a stronger open, but these pre-open calls are easily manipulated and need to be taken with a grain of salt. Previous resistance remains first meaningful support, that does not come in until 109.725-110.075. Looking at the early morning bid/ask, it appears we will have a strong open..........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:



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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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