Major Support: $2.212-$2.207, $2.185,$2.12, $2.029 Minor Support: $2.27 Major Resistance: $2.437, $2.48-$2.52, $2.716-$2.755, $2.884-$2.908, $2.984 Minor Resistance: $2.328
Just when I cautioned about the perils associated with shorting the winter contract, prices gapped lower on late Sunday trade. My reasons for warning is to keep you aware of the potential of an issue before it happens. I have little knowledge if a short covering rally is going to happen. Looks to me like the trade wants to test the low teens in the January contract so play along accordingly.
