From what I was told by the fundamental folks — the data release was from the bearish perspective ( prices had declined into the release) but prices found support at $8.00. That action continued what I discussed earlier in the week regarding forming a range to trade. This would be a “manageable” range from a trading perspective rather than the wild volatility we have endured in the last month or so. Time will tell should the current behavior continue.
Major Support: $8.02, $7.55, $7.14, $6.88, $6.754,$6.38, $6.02, $5.623, Minor Support: $7.41, $6.42, $5.548, $5.40-$5.45 Major Resistance: $8.95, $8.996-$9.057
