The discussion yesterday was having a test of $4.75 and that challenge is now completed — the next challenge will be testing the $4.66 area and my thoughts on that are muddled with the history of the last six expiration’s ending with rallies. Not convinced that the area from the Dec ’18 highs will be tested with the Oct contract. Prices have declined for four consecutive days — it is likely we will see a bounce.
Major Support: $4.61, $4.537,$4.375, $4.211, $4.156, $3.92, $3.821, $3.722, Minor Support: $4.728-$4.70, $4.66 Major Resistance: $5.24, $5.486, $5.65, $5.93
