With the recent bearish trade, my expectations that the new headlines regarding production cuts would become history and declines would continue again. To my surprise, declines were held to the previous day’s lows. Time will tell if the operators comments will drive prices longer term. Until then, continue to play the call spreads, mentioned earlier in the week, using the further summer months.
Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312 Minor Support : Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,
