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Hog Futures: April Hog Futures Closed Higher Thursday

by 5m Editor
11 April 2014, at 7:53am

US - April hogs closed up $0.15 at $125.17.

April hog closed higher on Thursday and above the 20-day moving average crossing at 124.34. The mid-range close sets the stage for a steady opening when Friday's night session begins trading.

Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term.

If April renews this year's rally into uncharted territory, upside targets will be hard to project. Closes below the reaction low crossing at 120.25 would confirm that a short-term top has been posted.

First resistance is last Wednesday's high crossing at 128.62. Second resistance is unknown. First support is the reaction low crossing at 123.00. Second support is the reaction low crossing at 120.25.