OOPS– Declines Didn’t Extend This Time

Daily Continuous
Spot May Contract

Well, I warned you that prices had not accomplished much with the declines and had to prove the point by breaking down through serious support levels. No such event and I did not even need the stop losses. Market should now test the resistance area and remain in this consolidation process.

Support: $2.422-$2.414, $2.373$2.356,$2.255-$2.176
Minor Support: $2.483, $2.162
Major Resistance: $2.74-$2.789, $2.89, $2.98-$3.05,
Minor Resistance:$2.806

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