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No Serious Decline Into Gap

Daily Continuous

Daily Continuous

Major Support: $3.444-$3.431, $3.313, $3.108, $3.045

Minor Support: $3.261, $3.152, $3.13, $2.938, $2.783, $2.704, $2.695, $2.61

Major Resistance: $3.568-$3.576, $3.661

I thought for sure the market was going to decline into the gap that was formed from last weekend— but not such event occurred.  That may be more of indication of a lack of folks want to short this run after what happened last weekend ($.20 short coverings losses are not fun).  Today we get the storage report and folks seem comfortable around the 60 injection level for last week. Not sure how that will alleviate the winter concerns with low inventories but we will see. Market still over extended up—- so would not add to length above $3.52 and would take profits on the Monday highs or higher.  

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