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December Lean Hogs Closed Down on Tuesday

1 October 2014, at 8:10am

US - December lean hogs closed down $0.52 at $94.32 on Tuesday 30 September.

Prices closed nearer the session low today. The key “outside markets” were bearish for hogs today as the US dollar index was higher and crude oil prices were sharply lower.

Bulls and bears are on a level near-term technical playing field amid choppy trading recently.

The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at the September high of $99.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at the September low of $90.90. First resistance is seen at $95.00 and then at $96.00.

First support is seen at today’s low of $93.50 and then at $93.00.

Wyckoff's Market Rating: 5.0