Major Support: $1.909,$1.872, $1.611 Major Resistance: $2.08-$2.10, $2.34, $2.437, $2.48-$2.52, $2.716-$2.755 Minor Resistance: $2.21
Prices really went nowhere from the open on Sunday night. We are now chasing the lows from 2016 and the issue, from a technical perspective, is the market has extended into over-sold area, but that does not mean additional declines will not happen . The fundamentals (weather) remains bearish but there will be an element to trade that will force profit taking. The question remains does it occur at $1.61, as in 2016, or somewhere earlier.
