Additional Declines – No Dip Buyers Yet

Daily Continuous

Not surprising to find additional declines post the storage report. The volume the last two day has been lighter on the declines than the short covering run early in the week, which should be expected. Perhaps the market is testing support and consolidating the gains made earlier in the week, but in reality the prompt is where it was post May expiration. Lots of volatility and no clear directional bias.

Major Support: $1.82, $1.611, $1.555-$1.519
Minor Support: $1.794, $1.78-$1.765
Major Resistance: $2.062,$2.08-$2.102$2.108,$2.139-$2.16, $2.255
Minor Resistance: