Lean Hogs Defend Significant Support.....AGAIN

Lean Hogs
Technicals (July): Our "MUST HOLD" support pocket held again yesterday which was a silver lining, but I'm sure the Bulls would rather stop testing it. That pocket remains intact from 103.35-103.70. A failure here could take us back to fill the tiny gap left from May 16th, and potentially lower. On the resistance side of things, there are multiple hurdles for the Bulls. The first hurdle comes in right near where the market closed, 106.75-107.75. A close back above this pocket could help spark some buying interest which could take us back near the 50 and 100 day moving average, which coincides with trendline resistance from the March 31st high.

Resistance: 106.75-107.75*** 110.50-111.625***, 114.00-114.825***

Support: 103.35-103.70****, 101.30-101.60**, 97.375-98.00****

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