ShapeShapeauthorShapechevroncrossShapeShapeShapeGrouphamburgerhomeGroupmagnifyShapeShapeShaperssShape

Hog Futures: October Lean Hogs Closed Down Wednesday

by 5m Editor
24 July 2014, at 9:09am

US - October lean hogs closed down the $3.00 limit at $110.45 Wednesday.

Prices hit a four-week low today. The hog bulls are fading and a three-week-old downtrend is in place on the daily bar chart, to suggest a market top is in place.

The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at this week’s high of $114.10.

The next downside price breakout objective for the bears is pushing prices below solid technical support at $109.00.

First resistance is seen at $111.00 and then at $112.00. First support is seen at $110.00 and then at $109.50. Wyckoff's Market Rating: 5.5