Hog Futures: June Lean Hogs Closed Down Thursday
US - June lean hogs closed down $0.32 at $122.80 Thursday.Prices closed nearer the session low. The bulls and bears are on a level near-term technical playing field.
The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at last week’s high of $127.50.
The next downside price breakout objective for the bears is pushing prices below solid technical support at last week’s low of $121.50.
First resistance is seen at today’s high of $123.75 and then at $124.00. First support is seen at this week’s low of $122.50 and then at $122.00. Wyckoff's Market Rating: 5.0