Range Continues to Be Established

Daily Continuous

Prices started higher last night and would speculate that there is some weather related issue causing it. From a technical standpoint, the failure of the test of support (50 day SMA) and then a rebound (discussed in the Weekly), suggested that prices would start the week stronger. The other bullish factor is the seven month history of strength during the expiration process. Would continue to expect strength the next few days.

Major Support:$5.275, $5.17, $4.88-$4.825, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92
Minor Support: $4.728-$4.70, $4.66
Major Resistance:
$5.40, $5.489, $5.655, $5.822

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