Lean Hogs: A downtrend will start as soon as the market drops below the 84,925 level

Anton Kolhanov Anton Kolhanov

Weekly forecast (November 28 – December 2, 2022)

Uptrend scenario

An uptrend may be expected to continue, while market is trading above support level 84,925, which will be followed by reaching resistance level 93,300.

Downtrend scenario

The downtrend will start as soon, as the market drops below support level 84,925, which will be followed by moving down to support level 78,975.

Monthly forecast, November 2022

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 89.075, which will be followed by moving up to resistance level 93.025 and if it keeps on moving up above that level, we may expect the market to reach resistance level 122.650.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 89.075, which will be followed by reaching support level 80.675 and if it keeps on moving down below that level, we may expect the market to reach support level 72.975.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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