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[/et_pb_code][et_pb_text _builder_version=”4.8.1″ _module_preset=”default”]Alright folks, today we’re gonna take a look at lean hogs, lean hogs. It’s H E to symbols he on most platforms could be L H on other platforms are looking at the lean hogs futures contract you see, we closed today 7472 half. And after we have come off of these July highs right here, we are now coming in and settling it at longer term structure least here on the weekly chart. So you see we met our 123 Top objective coming all the way down to first target right here at 7310, which also coincides with the 200 day moving average, you see that that puts us in a nice little area of structure where we are getting a reaction as we would expect over here on the daily chart. Now from a seasonal perspective, we also had a small pocket here of seasonal buy bullish bias starting on around over 11th Or no 24 83% win rate over the last six years. It’s a shorter term idea about two cap two weeks of two calendar. Two weeks of calendar trading here, that at 3% of time over the last six years now there is an an ETF that tracks this, but it is somewhat of a joke in terms of liquidity and volume. So it is called cow co w if you take a look here, we’ve had roughly 8600 8700 shares trade today, very little volume, no volume, actually, we had to two lots traded there on the call side on the Jan contracts. So somebody may be bullish there by buying that little too light right there. And then open interest, fairly light, nothing, you know, everything under 100. Looks like we have about 75 there on 36 calls and about 50 There on the 36 puts are right there slightly in the money. So if you were to trade this, I would suggest using the futures market or preferably the futures options. There’s enough liquidity there for you to take a trade in as we’re not certainly not scalping, this market, this would be more of a swing trade type position. Now, first targets are going to be right up here in this area. So we’re going to be targeting right around in here. As far as target. So that would take us up to about 8485. Now we’re not we’re not in this trade. Right now I’m just bringing this to your attention. We’ll watch and see how we react if we get some follow through here. But we do we did get that reaction as we as we expected right down here. But either way, we’ve got a very good risk reward ratio. If we do get long, we look to get long somewhere around in here, right around in this area at risk would be down here somewhere below the swing lows. And then of course our targets would be all the way up here. So we don’t least have likely have a two to one reward versus risk on the trade. So we’ll see how this one develops.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
