February lean hog futures a selling opportunity on more price weakness.
See on the daily bar chart for February lean hog futures that prices are in a steep downtrend and the bears are in firm technical command. Recent price action has formed a bearish pennant pattern, to suggest another leg down in prices is coming. A move below support at the December low of $85.55 would become a selling opportunity. The downside price objective would be $82.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at $87.50.
