Daily Lean Hog Technical and Fundamental Update (6.12.22)

Lean Hogs
Technicals (July): July lean hogs attempted to get out above technical resistance from 106.75-107.75 but failed to sustain the early momentum into the afternoon session. If the Bulls can chew through and close above this pocket, we would look for an extension towards the mountain of resistance from about 111.00-112.70. This pocket includes trendline resistance from the March 31st highs, the 50 and 100 day moving average, and other previously important price points. On the support side, 103.35-103.70 is the pocket the Bulls must defend.

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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