Declines extended lower after the storage release and closed at the lows. Am I selling — no way as the market is still oversold from a technical standpoint. Am I buying at these lows — not the prompt any length will be in the summer differed contracts. Have not trusted the selling from the funds and the “spreading” action in the CFTC data — so not to choose that group of “individuals” I remain longer term and minimizing exposure.
Major Support: $2.422, $2.238
Major Resistance$2.67, $3.536, 3.595, $3.63, $3.789, $4.128, $4.22-$4.39, $4.75-$4.825, $4.948