First off– We are in the midst of moving the office to another location which will require interruptions of internet access. I will try to get updates on the Daily out in a timely matter but there may be some issues with getting them in the email. Should you not get the email, turn to the website for the Daily. We experienced some slight problems last week but believe we had them rectified.
Prices broke down and found support at key levels around $1.60. Expect this to continue. Volume was higher week over week and open interest gained towards the end of the week. An interesting development occurred when prices declined at the first part of the week, volume was significantly lower. As price gained some support, volume rose significantly. Not sure what news is going to hit the market and create a directional bias, so continue to play the range.