Prices consolidated the gains from Monday and traded in a tighter range. Perhaps, the trade is building positions to move higher or developing positions to test support, but evidence either way is missing now. Traders would be wise to wait for clearer signals to initiate substantial new positions. Continue to play the book of the higher end of the range to be found before the historical trend of weaker prices either side of the Memorial Day holiday take hold.
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
