Hog Futures: August Lean Hogs Closed Down Wednesday

by 5m Editor
17 July 2014, at 8:59am

US - August lean hogs closed down $0.15 at $130.57 Wednesday.

Prices closed near mid-range in quieter trading. 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 this week’s high of $131.22 and then at $132.00. First support is seen at $130.00 and then at this week’s low of $129.22. Wyckoff's Market Rating: 7.0