Hog Futures: October Lean Hogs Closed Down Monday22 July 2014
US - October lean hogs closed down $0.80 at $112.75 Monday.
Prices closed nearer the session low and closed at a three-week low close. The hog bulls still have the overall near-term technical advantage but they are fading.
The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $115.00.
The next downside price breakout objective for the bears is pushing prices below solid technical support at the July low of $111.05.
First resistance is seen at today’s high of $113.62 and then at $114.00. First support is seen at today’s low of $112.40 and then at $112.00. Wyckoff's Market Rating: 6.0ThePigSite News Desk
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