Industry experts preview the June 30th Acreage Report focusing in on the Agricultural Markets.
In this video, Dave Hightower of The Hightower Report and Rich Nelson, Chief Strategist for Allendale, Inc., discuss trading opportunities around the June 30 U.S. Quarterly Hogs and Pigs Report and what it means that traders are expecting a large supply evidence.
The wedge pattern is identified by 2 converging trend-lines that come together at an apex. What distinguishes the wedge pattern is the slant to the downside or upside. The wedge slants against the prevailing trend. A falling wedge is considered bullish and a rising wedge pattern is considered bearish. Wedges show up most often within the existing trend and are usually considered continuation patterns however the wedge can also appear at tops or bottoms signaling a trend reversal. The pattern is confirmed when prices break above the declining resistance trend-line for falling wedges and below the ascending supporting trend-line for rising wedges.
Review a successful year in the dairy markets at a glance with the 2017 year-to-date infographic, highlighting dairy records, yearly ADV, open interest and more.