I waited to write the Daily until trade open at 4:00 pm Rocky Mountain time and it soon became obvious that, as mentioned yesterday, it was not a matter of if but when that the break our above was going to occur. Now the key is the short covering that comes with the break out. I suspect that a large amount of covering has occurred and the June contract is going to run into additional resistance from $2.10 onward. Trade with length cautiously and wait for confirmation that dips will be supported.
Major Support: $1.82, $1.611, $1.555-$1.519 Minor Support:$2.029, $1.794, $1.78-$1.765 Major Resistance: $2.062,$2.08-$2.102–$2.108,$2.139-$2.16 Minor Resistance:
