For the eight consecutive month, expiration was met with strength in prices. So strong was the Nov expiration that it the price drove through the Dec price that now takes over as prompt. Now prices sit over the $6.00 threshold which seemed to present problems during the previous runs. All during the excitement in October, there was only one daily close above $6.00. How does this strength play out. Look to add to length on retracement– if your shorting this market for longer trade positions — re-evaluate strategy– there is not technical indication that this strength (longer term) is abating.
Major Support:$5.82, $5.655, $5.275, $5.17, $4.88-$4.825, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92 Minor Support: $5.489, $4.728-$4.70, $4.66 Major Resistance $6.24-$6.493, $6.28,$6.466
