Suggested in the Daily last Friday, that against the technical instincts that the market showed, it may rally against the consolidation for prices, similar to the week prior and decline. Sure enough, prices started weaker, per the expectations, only to take off on a nice outside daily reversal pattern, finishing near the highs of the day.
With that said, it should be noted that the rally has taken prices near a zone, commencing at $2.50 up to $2.60 that has held the market consistently over the last few years. During last year’s run to the Q4 high there have been only four closes above it, all during the run in Nov ’19.