Unlike May, when prices rallied on the pipeline break only to retrace the next day, yesterday’s action showed an extension of the gains from Monday. The recent strength in prices may not be going away, but we will see. Momentum indicators, short term, are reaching over-bought levels but longer term are not there yet. Yesterday’s low, early morning low, reached 38% retracement of the Monday gains, but found buyers. That area will now become minor support.
Major Support: $1.893,-$1.86, $1.527, $1.484-$1.44, $1.336 Minor Support: $2.102, $2.055, $1.975, $1.719 Major Resistance: $2.255, $2.43 Minor Resistance:$2.164
