After watching pork for a while we have finally hit a price that may provide some good overhead resistance as my price target for wave 3 of three has been hit at 132.20-30 as stated in my last pork update.
If this indeed is the correct count then we should see a deep wave 4 to 1st target of 119.10 and second target of 115.00. While wave 3's are dangerous to short the risk reward on this trade seems to be at a great ratio to trade.
As of this writing we are currently 132.425 on June lean hogs…
Positions : short June from 132.15, 132.30 .
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