US - October lean hogs closed up $1.42 at $107.20 Wednesday.
Prices closed near the session high and hit a six-week high today. Bulls have the overall near-term technical advantage. Prices are in a three-week-old uptrend on the daily bar chart.
The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $108.50.
The next downside price breakout objective for the bears is pushing prices below solid technical support at this week’s low of $102.80.
First resistance is seen at $107.50 and then at $108.00. First support is seen at $106.00 and then at today’s low of $105.20.
Wyckoff's Market Rating: 6.5ThePigSite News Desk
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