Prices weakened on Friday (per expectations) and now look to test the support zone at $5.17 and then stay above the critical $5.00 level which has not been broken for a month. Not sure the bears have the power or commitment to break that level as the general supply and demand imbalance situation has not modified in the last week. Hence, continue the range market that will control prices near term.
Major Support:$5.416, $5.341, $5.17, $4.88, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92, $3.821, Minor Support: $4.728-$4.70, $4.66 Major Resistance:$5.63- $5.68
