Mentioned earlier in the week that the gap from a week ago Monday is a low risk sell– little did I know that the trade would profit and cover a portion at near term support in one day. I thought I would need to hold that short until the storage report — but that was not the case. Looking at the total volume from Monday, it was well above the recent total volume for the last week of trade days. It will be interesting to look at the volume from yesterday when it becomes final. The rally may well have been associated with short covering — but then did the shorts come back in yesterday? We shall see.
Major Support: $5.61-$5.44, $4.716, $4.705-$4.68 Minor Support: $5.47 Major Resistance: $6.314, $6.456, $6.74, $7.18, $7.532, $7.71-7.75, 8.021,
