Prices spent another day in a rather quiet day range– almost like the consolidation pattern discussed here several times. May be setting up for a run or developing the potential for additional declines. Likely, the set up is for the upcoming storage report (utilizing that for the volume for the directional push). Runs will find sellers at or around $6.00 while declines will need to break below and close below $5.40-$5.35.
Major Support: $5.623, $5.59-5.572, $5.06 Minor Support: $5.548, $5.40-$5.45 Major Resistance:$6.021, $6.34-$6.43, $6.587, $6.638
