For the third time in the last three days, prices broke above the old gap (discussed for the last few days) only to find selling and closing the day below the lower end of the gap. Clearly, there is formidable resistance around the high side of the gap ($3.047 original gap to $3.091 yesterday’s high). Perhaps, they will be more successful on the expiration of the November contract tomorrow but regardless, the Dec contract is likely to test this or nearby support in the coming weeks.
Major Support: $2.907, $2.822, $2.71,$2.476-$2.446, $2.392,$2.258-$2.253, $2.219 Minor Support:$2.783, $2.638, $2.508, $2.339 Major Resistance: $3.047-$3.053, $3.091-$3.101, $3.19
