Hog Futures: August Lean Hogs Closed up Thursday

13 June 2014, at 8:11am

US - August lean hogs closed up $0.90 at $130.85 Thursday.

Prices closed near the session high and hit a contract high today. The hog bulls 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 $127.50.

First resistance is seen at today’s contract high of $130.85 and then at $131.50. First support is seen at $130.00 and then at today’s low of $129.55. Wyckoff's Market Rating: 8.5