After the small explosion in prices last Friday, it was not surprising to watch consolidation yesterday. Starting to hear questions about this rally in the face of the storage surplus which may be an indication of the struggle yet to come as we head into the late Q3. In the mean time, play the mini-ranges that are developing, now in the $2.30’s, and likely to head into the high teens during the seasonal weakness.
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:
