Last week’s close implies a stronger opening today and we are seeing some of that this Sunday night. Don’t hear about a lot of changes over the weekend so that suggests that the current expectations (weather) are already cooked into price. This recent action (four weeks) reminded me of last December which I discuss in the Weekly section and recommend a review. Play the daily directional move for very short term positions– wait for tests of significant support areas for hedging and entering longer term positions.
Major Support:$6.88, $6.754,$6.38, $6.02, $5.623, Minor Support: $6.42, $5.548, $5.40-$5.45 Major Resistance: $7.144, $7.41, $7.485, $7.55
