Well, prices close above $2 but then spent yesterday retracing back under that key area. Problem for the bears is that prices didn’t collapse and rather found support above last week’s low for the June contract. Perhaps, that could be interpreted as a bullish divergence but would not take that to the bank. As mentioned yesterday — perhaps (as a trader), you need to take a time out and let the market define its intentions.
Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312 Minor Support : Major Resistance: $1.94-$1.967, $2.00, $2.08, $2.148, $2.168-$2.411 (gap)
