Price action gave no indication of directional bias during expiration yesterday, so we are left with boring range trade of the last week. One element of the trade noticed yesterday, was the weakening of the winter trade versus prompt– this may give us a clue of where to trade this market for a little more action than with the prompt as the premium of Dec to July is $1.10. Will keep you posted on an other nuances that this market is providing in a very docile period.
Major Support: $1.611-$1.59, $1.555-$1.519 Minor Support: $1.649 Major Resistance: $1.90, $1.974, $2.019- $2.029 Minor Resistance: $1.722, $1.864-$1.896
