October Lean Hogs Closed up Tuesday

3 September 2014, at 8:26am

US - October lean hogs closed up $1.80 at $99.87 Tuesday.

Prices closed near mid-range and hit a three-week high. Bears have the overall near-term technical advantage.

However, the bulls are now making a move, and following the cattle futures.

The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $102.00.

The next downside price breakout objective for the bears is pushing prices below solid technical support at $96.00.First resistance is seen at $100.00 and then at today’s high of $101.12.

First support is seen at $99.00 and then at today’s low of $98.75.

Wyckoff's Market Rating: 4.0