Hog Futures: August Lean Hogs Closed Down Tuesday

by 5m Editor
11 June 2014, at 9:26am

US - August lean hogs closed down $0.75 at $129.35 Tuesday.

Prices closed near the session low on profit taking after hitting another contract high early on. The hog bulls still have the solid overall near-term technical advantage.

The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $132.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at $126.75.

First resistance is seen at today’s contract high of $130.30 and then at $131.00. First support is seen at this week’s low of $129.40 and then at $129.00. Wyckoff's Market Rating: 8.0