Hog Futures: August Lean Hogs Closed Down Thursday

by 5m Editor
18 July 2014, at 8:55am

US - August lean hogs closed down $1.87 at $128.65 Thursday.

Prices closed nearer the session low. The hog bulls still have the 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 the contract high of $133.37.

The next downside price breakout objective for the bears is pushing prices below solid technical support at last week’s low of $126.62.

First resistance is seen at $129.00 and then at $130.00. First support is seen at today’s low of $128.27 and then at $128.00. Wyckoff's Market Rating: 6.5