Major Support: $2.52-$2.486, $2.41-$2.38, $2.346, $2.212-$2.207, $2.185,$2.12, $2.029 Minor Support: $2.33 Major Resistance: $2.716-$2.755, $2.884-$2.908, $2.984 Minor Resistance: $2.642
The plethora of support prices held yesterday and now the market is setting up for the storage report. Have no clue what it is but am more interested in how prices react to this critical supply and demand report. Will state again as to the plethora of support zones …… The $2.52-$2.486 holds all sorts of importance. The 50 day SMA is at $2.487 and the 200 day SMA is at $2.489, the July high at $2.49 and then you have the long term support (until broken earlier this year) at $2.51-$2.52. Where does the market go— should support hold it is back up into the $2.64 area at first. A break down (on a daily close) opens up the low gap from Oct 28th at $2.346. It may stop short of that but that should be the target…
