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Hog Futures: June Lean Hogs Closed Down Wednesday

by 5m Editor
3 April 2014, at 9:19am

US - June lean hogs closed down $2.80 at $124.80 Wednesday.

The bulls are fading to better suggest a major market top is in place. This market remains dangerous for both the bulls and bears.

The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at this week’s high of $128.65.

The next downside price breakout objective for the bears is pushing prices below solid technical support at last week’s low of $123.20.

First resistance is seen at $126.00 and then at $127.00. First support is seen at today’s low of $124.70 and then at $124.00. Wyckoff's Market Rating: 6.0