Daily Continuous
Ok, I confess, wrote yesterday’s Daily thinking I would roll it over to today’s — little did I know that prices were going to drop into the low end of the range. — Was not going to update (limited internet sources) but have decided to use my mobile hot spot on the phone. Nothing has changed except that prices declined to the low end of the range regardless of Storage.
Storage release should give us one of two options — if it is bullish to expectations, prices are likely to test the double top of the July contract seen below:
Daily Prompt July Contract
On the other side of the expectation potential will be a bearish report sending price back to the low of the July trading range (down to $2.70-$2.50).
Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312
Minor Support : $2.944, $2.64, $2.448, $2.168, $2.12, $2.00, $1.967- $1.94
Major Resistance: $3.00, $3.16