Daily Continuous
Mentioned earlier in the week the market seemed to be looking for a fundamental justification for a bias break out of the range. I was wrong as yesterday’s bearish storage number could only take prices back to the low support range- but break down further. Want to analyze the week as a whole for any directional bias but I don’t think there will be any massive adjustment to my thinking as we are headed into expiration next week.
Major Support: $3.024, $2.97-$2.93
Minor Support/Resistance : $3.16-$3.148, $3.136
Major Resistance: $3.787-$3.831, $4.063, $4.086, $4.593, $5.333, $5.496