If you trade commodities for very long — you learn that declines and break-downs often occur in massive declines as bullish bets escape with what profits they can. So far this week, the declines have taken on the behavior identity of a positive run with consistent (value losses) declines and not the large volatile collapse that often occurs. If this is the behavior that this retracement wants to own then so be it, and play for the chunks of declines rather than the “collapse”.
Major Support:$4.38-$4.26, $4.187, $3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: $4.60-$4.557 Major Resistance: $4.82-$4.88, $5.08
