Was expecting a test of support, but a trap door opened and prices rapidly accelerated downward, declining to the 50 day SMA of continuous prices. This action has now created a gap above, clearly defining resistance, and the old gap below from the Nov contract (taking over as prompt) last October. Entering new positions at this point will provide significant risk as stop levels are extended. Perhaps, a daily position on day trend is warranted for the next day or two.
Major Support: $2.663, $2.657-$$2.637,$2.621 Minor Support: Major Resistance:$2.82-$2.853, $2.887, $2.98-$3.05, $3.091, $3.151, $3.24, Minor Resistance:
