Hog Futures: Lean Hogs Closed Up on Tuesday

16 July 2014, at 7:39am

US - August lean hogs closed up $0.50 at $130.85 Tuesday.

Prices closed nearer the session high. The hog bulls presently 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