For the second consecutive day, prices tested and held the support (old resistance) zone at $3.00. The storage report will likely provide yet another test today. The longer the zone holds the stronger it will get — so we will have to watch the zone over the next week. History tells us that the current price levels and the June (calendar) high may provide some relief for these tests.
Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312 Minor Support : $3.00, $2.944, $2.64, $2.448, $2.168, $2.12, $2.00, $1.967- $1.94 Major Resistance: $3.00, $3.16
