Major Support: $2.52, $2.41-$2.38, $2.212-$2.207, $2.185,$2.12, $2.029 Minor Support: $2.633, $2.57, $2.33 Major Resistance: $2.716-$2.755, $2.884-$2.908, $2.984
Prices were headed and challenge the Minor Resistance at $2.57, only to find a plethora of buyers that took the market up to $2.60 at the close of the old outcry period and then extended gains another $.07 by the end of the day in Globex trade. Got no clue what that run was about but it sure looked to me that some of the late shorts got spooked. Well, perhaps now we will get a chance to attack the Island Reversal gap mentioned earlier this week. Never know with a storage report , but that gap gives a seller a low risk (stop out on closure) opportunity to reload. We shall see.
