Was expecting more of a test of support with a slightly bearish report. Instead, prices rallied at the end of the day. Perhaps this is the new range $2.08-$2.28 but I believe that there will be another test of support before the expiration, but this expectation is solely based upon the historical trend of prices during this time of year. Am not suggesting that the $2.05 level will break down, rather that the highs for the September contract are likely established and the lows between $2.02-$2.055 will hold going into expiration.
Major Support: $2.055, $2.029-$1.937, $1.86, $1.527, $1.484-$1.44, $1.336 Minor Support: $2.102, $1.975, $1.719 Major Resistance:$2.255-$2.284, $2.377-$2.397,$2.43 Minor Resistance:
