As discussed in yesterday’s Daily– the trade seems to be following a path similar to last month in early March as weather brought some short term support to prices. The same seems to be occurring this month. Wait for for prices to definitively break above resistance– by closing above the near term resistance between $1.85-$1.96 on a daily basis– before entering any serious length. In the meantime, I found the early March rally a good opportunity to sell some premium in the options market.
Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312 Minor Support : Major Resistance: $1.872, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,
