Prices closed nearer the session high after hitting a five-month low early on today.Short covering was featured.

A steep five-week-old down trend is in place on the daily bar chart. Bears have the firm near-term technical advantage.

The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $100.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at $95.00.

First resistance is seen at $98.00 and then at $99.12. First support is seen at $97.00 and then at today’s low of $96.05.

Wyckoff's Market Rating: 3.0