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Storage Has Little Effect

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

The release had little impact on prices except to send the price off of the early highs.  Nothing surprising in the number so not much has change from the tech perspective.  Still range trading in a consolidation phase, waiting for an indication of the next move whether higher or lower.  Most of you know my perspective on this current Q4 rally but the market seems to be back waiting on inventories vs the production gains, which leaves it susceptible to weather forecast dominance. Not sure the run is over but if the forecasts come out warmer for late Nov and Dec then we all know what will happen. Play the range.   

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