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Hog Futures: April Hog Futures Closed Higher Thursday

11 April 2014
Jim Wyckoff Commentary -  TheCropSite

US - April hogs closed up $0.15 at $125.17.

April hog closed higher on Thursday and above the 20-day moving average crossing at 124.34. The mid-range close sets the stage for a steady opening when Friday's night session begins trading.

Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term.

If April renews this year's rally into uncharted territory, upside targets will be hard to project. Closes below the reaction low crossing at 120.25 would confirm that a short-term top has been posted.

First resistance is last Wednesday's high crossing at 128.62. Second resistance is unknown. First support is the reaction low crossing at 123.00. Second support is the reaction low crossing at 120.25.

ThePigSite News Desk

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any traders and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 1. Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.

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