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October Lean Hogs Closed Up on Thursday

5 September 2014, at 8:09am

US - October lean hogs closed up $1.80 at $102.90 Thursday.

Prices closed near mid-range and hit another four-week high today. Bulls and bears are now back on a level overall near-term technical playing field.

However, the bulls are now making a strong move, and following the cattle futures. The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $106.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at $100.00. First resistance is seen at $103.00 and then at today’s high of $104.10.

First support is seen at $102.00 and then at today’s low of $101.72.

Wyckoff's Market Rating: 5.0