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What's With Weekends

Daily Continuous

Daily Continuous

Major Support: $2.734-$2.708, $2.693, $2.643, $2.598

Minor Support: $2.778, $2.63

Major Resistance: $2.84, $2.891,$2.94, $3.01

Not sure what is going on but since Thanksgiving weekend prices have come back from the weekend with strength and in five of the last seven weeks that strength has held through the day (whether it was a Monday or a Tuesday).  What is that all about?  I must admit that it has provided some quick bets but seems irrelevant to the general trade bias. It is likely to be a volatile trade period off and on as weather forecasts will have brief impacts on price movements, but the overall trend since trade took out the $2.75 area last month has to be a negative bias.  This week will likely have some limited support due to the record withdrawal that we lived through last week with a 320ish withdrawal on Thursday (to my limited fundamental trading knowledge wasn’t that why prices went up to $3.097).

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