Daily Continuous
The strong close to last week may be suggesting early strength today but the Sunday night market is showing weakness. Discuss the seasonal patterns and historical averages (declines) around the Independence Day in the Weekly section — give it a read. Will be in and out of access this holiday week– but I should be scheduling the Daily tomorrow and Wednesday. Should the declines initiated on Sunday hold — the market will likely be establishing the initial low end of the range for August contract.
Major Support: $3.054-$3.007, $2.97, $2.727, $2.648,
Minor Support :$3.62, $3.46, $3.30-$3.26
Major Resistance:$4.168, $4.461, $4.501