Yesterday’s big run was a combination of forecast changes and short covering and clearly the market was a bit over bought with big volume and resistance minimal in a short covering rally. Had issues with my email delivery so this is only on the web today. Let the market retrace — if it does– and devour yesterday’s gains. If it doesn’t happen today and prices rock they will have to consolidate at some point. Risky to enter length at the highs, a pull back may give you a better entry point.
Major Support: $4.02, $3.734, $3.63, $3.584-$3.522
Minor Support: $4.38, $4.19,$3.82
Major Resistance: $4.73-$4.775, $4.818-$4.825, $5.045