Not surprised that the gap closed yesterday, but was a little stunned that the gains held though-out the trading day. Now being short, will need to establish stop positions which will include the Dec high of $4.664, Sept low $4.735, or the Oct low $4.825, depending on my risk tolerance. This run is not building on volume as the volume this week (daily basis) is the lowest of the month with the exception being last Feb 1st. Open interest has gained slightly this week but not looking like a large break out of new buyers through out the prompt and upcoming summer. Remaining patient.
Major Support:$4.38, $4.26, $3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: $4.48 MajorResistance:$4.664, $4.735, $4.825
