That was easier than I had expected as prices declined through the intermediate support zones and close below $5.00 for the first time since late September. Will be interested to see how far the declines continue as nothing has changed regarding world wide supply and demand balance that I was told driving the gains. U. S. demand going into November looks mild but again that was not the catalyst (so I was told). How much with the fundamental kids take prices lower before they get interested in supporting price again. I care not as my trades have always been based upon the technical side of price action– funny how all that fundamental crap means little to levels and trends.
Major Support: $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:$5.17, $5.34,$5.63- $5.68
