Prices last week ran just up to the 200 Day SMA in the May Contract before failing and retracing back to the middle of the range. Spoke in the Good Friday observations about volume and the lack thereof in the current environment and last week was on of the lowest 4-Day weekly volumes in many years. The shorts loaded up last month (seemingly on Mondays) and now they seem limited in additional contracts to sell per my writings last week. The low end of the range is $2.52 and the high side is that 200 day SMA in the May contract.
