Discussed yesterday about the history of calendar Dec trade and opening with weakness. That history continued with yesterday’s action and now the market will need to define the low side of the Jan contract in the coming days. From a trade perspective, would cautiously enter length on key areas with tight stops in- case the market chooses to re-evaluate the bullish break above $6.45.
Major Support:$7.00- $6.93, $6.45, $5.72, $5.61-$5.44, $4.716, $4.705-$4.68 Minor Support: $5.47 Major Resistance: $7.532, $7.71-7.75, 8.021,
