As mentioned yesterday, the Sunday gain failed to send prices further up when everyone returned to the office. Prices declined through the trade day on Monday, while yesterday’s action returned prices back where the trade lingered most of Monday. The market seems to be in need of information on the production declines and demand declines (incl. LNG) associated with Sally. My experience has been to keep stops tight during these types of information events.
Major Support: $2.28-$2.26, $2.18, $2.162,$2.089-$2.055 Minor Support: $2.195, $2.102, $1.975 Major Resistance: $$2.49-$2.51, $2.56 Minor Resistance:$2.37, $2.405, $2.443
