As discussed yesterday, the expectation was for prices to expire within a few pennies of May, as nothing has changed from a technical perspective. This author will let you fundamental folks to discuss the fundamental changes since the May expiration. What will be of more importance is the July contract trading in relation to the expiration as we may get more information to the seasonal historical trends discussed in the web site. Be patient and work the range.
Major Support: $1.611-$1.59, $1.555-$1.519 Minor Support: $1.705-$1.649 Major Resistance: $1.82-$1.849, $1.873, $1.90 Minor Resistance: $1.799, $2.029
