After a brief decline, prices rebounded yesterday, well after the storage release data. The market seems to want to test and, possibly, break above the key resistance area at $2.00. I have alluded to the effect of a break above this area, but it is key to near term price action through the summer. There will be some of the potential impacts of a break above (when-ever it happens) in the website next week and the coming weeks. You notice that I said “when” not “if” as I think the market is telling us that if you look to the strips and outer curves. Only a matter of time.
Major Support: $1.611, $1.555-$1.519 Minor Support: $1.78-$1.765 Major Resistance: $1.993-$2.025, $2.062,$2.08-$2.102 Minor Resistance: $1.968
