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Expiration Upon Us

Daily Continuous

Daily Continuous

Major Support: $3.108, $3.045, $2.956, $2.874, $2.836, $2.762, $2.711, $2.704

Minor Support: $3.152, $3.13, $2.938, $2.783, $2.704, $2.695, $2.61

Major Resistance: $3.297,$3.341, $3.431

Minor Resistance: $3.368

Expiration is today so trend movements should be limited.  The rally last Friday off a serious test of support was indicative of support for the winter still existing in the market.  Guess ending inventories around 3.2 is still a concern- regardless of the production growth of the last two months. December, as prompt, may want ot test support but would not wait to start initiating positions.  Starting to see variations between the European model vs the American model in the 10-15 zone so who know how the fundamental folks will trade.  

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