Been discussing the high side resistance being the expiration gap from the Feb expiration- and now it closed yesterday. From here you will notice the 200 day SMA just above yesterday’s highs– it should provide some resistance. A break above that level and there may be some momentum to take prices higher as there is likely to be some associated short covering. To the downside will be the storage release –possibly pressuring price rallies.
Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312 Minor Support : $2.168, $2.12, $2.00, $1.967- $1.94 Major Resistance: $2.168-$2.411 (gap), $2.46, $2.67
