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Guess a Fouth Test Is Apparent

Daily Continuous

Daily Continuous

Major Support: $3.046-$3.017, 2.998, $2.964-$2.93, $2.891

Minor Support: $3.088-$3.102, $2.88

Major Resistance: $3.198-$3.217,$3.214, $3.307

Minor Resistance: $3.166

Friday’s action was a small gain and it was interesting to see the run in prices after the “outcry” close (up nearly $.05) as one of the commonly followed models showed some cooling temps.  Those gains were swept away on the open last night as the very same models showed moderating temps.  Is this fun yet?  I can not tell you what will happen from a price movement standpoint as I have no confidence in these crazy models.  Support remains at the gap and resistance remains at last week’s high. It will be interesting the struggle explained last Friday in the Call— which one wins?  This week may have volatility (above and beyond the weather associated volatility) as it is a shortened week.

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