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Hog Futures: June Lean Hogs Closed up Thursday

by 5m Editor
21 April 2014, at 10:06am

US - June lean hogs closed up $1.12 at $124.90 Thursday.

Prices closed nearer the session high, hit a two-week high and closed at a bullish weekly high close today. The bulls have the near-term technical advantage.

Look for more high volatility in this market in the near term. The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at $128.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at $120.00.

First resistance is seen at today’s high of $125.45 and then at $126.00. First support is seen at $124.00 and then at today’s low of $123.05. Wyckoff's Market Rating: 6.0