MURICO.com Forum

This is certainly not the momentum

you see with a LAUNCH. So I have to believe this is the magnetic force of a bounce line doing its thing. When this bounce line range between 80.00-81.00 is satisfied with the kiss it gets, I expect a correction to test potential support between 77.00-78.00 to get the call. The daily chart has turned positive as long as it can keep daily closes above 77.20 and has a marked target at 82.35. The process of higher highs and higher lows if it stays in effect, dictates 82.35 can be achieved just from the Bounce Line magnets being switched on. It's also known as BIG MONEY pushing the market higher to get a better sell point to improve the risk/reward ratio. A launch is not necessary to get the desired target in this $2 window of opportunity the next 2 weeks to happen.

The Launch Point can still be set up at this 80.00-82.00 area for future use for a different contract that is waiting for the demand situation to be the driver. As long as June stays above 75.02 support low from April 21st, the Launching Pad is still waiting for the green light. The higher the Launch Point just gives the Launch that much more power with a higher destination. June does not trigger a weekly buy signal until it has a weekly close above 80.15. IF/WHEN that happens, you had better not be short and I for one will be adding more longs. With a weekly buy signal, the marked target becomes 86.70-88.00. There could be some resistance drag at 84.00 caused by the energy drain of breaking through the gravity zone at 80-82. Also the place where the move is 50-60% complete before the fundamentals change from bearish to bullish. We are at that area where you don't want to be complacent with short positions if price just keeps creeping higher.

I've got the scares to prove that it is not healthy to ignore a weekly buy signal. We probably have this $5 range between 75-80 for June hogs to play with this week but keep your focus on that weekly close above 80.15 buy signal trigger to SHOOT FIRST-ASK QUESTIONS LATER.

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This is certainly not the momentum
In the pop song of some years back of - - -