Have tried to explain, the market needs to go through these types of trade days to establish the trend. Going up $.10 on short covering and no new length, is not going to bring additional extensions above resistance. So here we sit in a new range between $2.42 and $2.70– perhaps this holds for the near term (especially through the seasonal weakness around Labor Day) but looking at the differed contracts, the expectation of additional gains looks prominent.
Major Support: $2.51, $2.186, $2.162, $2.089-$2.055, $2.029-$1.937, $1.86, $1.527, Minor Support:$2.499-$2.468, 2.377, $2.255, $2.102, $1.975 Major Resistance: $2.743-$2.755, $2.809
