Bears Garner Enthusiasm

Daily Continuous

Price action garnered the power to break below the recent range trade support levels and taking the price down to the highs from late August ($2.743). The release of CFTC data shows the Managed Money short segment adding to their positions through the report date (Nov 24th). Clearly looks like a bearish bias going into the storage report.

Support: $2.61- $2.621, $2.425,$2.373
Minor Support:$2.743
Major Resistance: $2.98-$3.05, $3.091, $3.151, $3.24,
Minor Resistance:$2.887

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