Was not expecting a break out upward on a Friday– but when prices bounced off the 40 week SMA in the Sept contract the party started. It should be expected that with the reduction of short positions and the hurt feeling associated with the rally event — dips will be bought. Key areas for the dips are $2.28, $2.16 and if it gets back there, $2.055.
Major Support: $2.162, $2.089-$2.055, $2.029-$1.937, $1.86, $1.527, Minor Support: $2.255, $2.102, $1.975, $1.719 Major Resistance:$2.377-$2.397,$2.43-$2.499 Minor Resistance:
