The Latest Variance

Daily Continuous

Just another variance yesterday as prices continue to treat this rally a little different than previous rallies. Over the last two months, after there was a failure at resistance the market could not move fast enough to test support as sellers rushed in. Yesterday (and the previous day), the market had every opportunity to facilitate the same behavior. Instead, prices found a bid and are now attempting to attack the same resistance zone around $2.00 that has held the market since January. This attack is already different than previous runs, it may have the same outcome as previous runs or it will redetermine the market for the upcoming summer.

Major Support: $1.611, $1.555-$1.519
Minor Support: $1.83, $1.78-$1.765
Major Resistance: $1.993-$2.025, $2.062,$2.08-$2.102
Minor Resistance: $1.968