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Hog Futures: June Lean Hogs Closed up Thursday

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

US - June lean hogs closed up $1.47 at $122.70 Thursday.

Prices closed near the session high and scored a mildly bullish “outside day” up on the daily bar chart.

The bulls and bears are still on a level near-term technical playing field but prices are still in a four-week-old downtrend on the daily bar chart.

The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at $125.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at the April low of $118.55.

First resistance is seen at $123.20 and then at $124.00. First support is seen at $122.00 and then at $121.00. Wyckoff's Market Rating: 5.0