Bouncing off of support lows from last summer, prices moved upward in an orderly way. Just as I expected the market to test the lows — I expect the run to move prices back up to $5.175 and test some of the areas of resistance. Time and weather forecasts will identify how far the rally runs. From a trade perspective, I don’t follow the fundamental data points, I will be trading based upon the range and the mini-ranges that develop.
Major Support: $4.88-$4.825, $4.728-$4.70, $4.61, $4.537,$4.375, Minor Support: $4.66 Major Resistance:$5.028, $5.076, $5.148-$5.175, $5.339-$5.40, $5.64, $5.964, $5.996,$6.177, $6.24-$6.493
