Wasn’t expecting that kind of pop in prices, regardless of the history of the June contract rising into weakness around the Memorial Day holiday. Some of my Candlestick traders tried to explain why but they are well above my knowledge of Candlestick patterns (beyond Doji patterns) and therefore I will not bore you with the details. Facts are the June caught a bid after a terrible trade last week. Guess where we are — yup- right in the range trade that has worked for the last few months. Play accordingly.
Major Support: $1.611-$1.59, $1.555-$1.519 Minor Support: $1.649 Major Resistance: $1.82-$1.849, $1.873, $1.90 Minor Resistance: $2.029
