/HE (lean hogs futures) will trigger an objective long entry on a break above the 87.42 resistance. The first price target (T1) is just below the 91.945 resistance with a second & current final target just below the 94.585 resistance. Additional targets may be added if & as /HE approaches T2, depending on how the charts look at the time. Suggested stop below 84.83 (or higher, if only targeting T1). 60-minute chart below.
HE 60m Jan 27th
Zooming out to the daily chart, just like I recently highlighted on the natural gas daily chart, the PPO has turn up & appears poised for the next bullish cross, an almost certainty should HE break above 87.42 soon. Note how the previous low-level (below the zero line) PPO bullish crossover have typically accompanied trend changes from bearish to bullish. To the best of my knowledge, there are not any ETFs or ETNs that directly track lean hog futures, only COW (livestock ETN) which tracks both lean hogs & live cattle, the latter of which does not appear to have as favorable an R/R at this time.
HE daily Jan 27th