The March contract exploded higher yesterday and while the summer strip gained, it was at a much smaller pace. March is clearly under the gun as the fundamentals (demand) and the production freeze offs are going to carry prices in the very short term. The question remains, how does the market respond after the temps warm up. BTW look for a big withdrawal this week and next week. Some of my analytical friends (fundamental) tell me that the surplus to the 5 year average and YOY comparisons are likely to become deficits by March.
Support:$2.98-$3.05,$2.373–$2.356,$2.255-$2.176 Minor Support:$3.108, $2.806, $2.71, $2.60-$2.554,$2.483, $2.162 Major Resistance: $3.316-$$3.396, $3.486 Minor Resistance:$3.172
