Prices finally broke out of the recent range and closed above $2.50 for the first time since March. Yes, there was some short covering around $2.50 that propelled the move a dime high. Is this the confirmation of the historical seasonal strength in spring and early summer– not sure but a retest of the “old”resistance ($2.50) and a failure to send prices lower will be a good indicator.
Major Support: $2.00, $1.991-$1.96, $1.795-$1.766 Minor Support: $2.50, $2.36 Major Resistance $2.543-$2.604, $2.836, $3.00, $3.536, 3.595
