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Hog Futures: June Lean Hogs Closed Down Thursday

by 5m Editor
2 May 2014, at 9:23am

US - June lean hogs closed down $0.32 at $122.80 Thursday.

Prices closed nearer the session low. The bulls and bears are on a level near-term technical playing field.

The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at last week’s high of $127.50.

The next downside price breakout objective for the bears is pushing prices below solid technical support at last week’s low of $121.50.

First resistance is seen at today’s high of $123.75 and then at $124.00. First support is seen at this week’s low of $122.50 and then at $122.00. Wyckoff's Market Rating: 5.0