The market is poised to test the lows from earlier in the spring (discussed in the Weekly) and is starting to add to the declines in the Sunday night trade. Not sure if the storm will impact prices as the potential for demand destruction was well known on Friday afternoon. Continue to expect the Q3 low to be established between now and Labor Day weekend.
Major Support:, $1.848, $1.52-$1.511, $1.481, $1.312 Minor Support : $2.00, $1.967- $1.94 Major Resistance: $2.39, $2.44-$$2.502, $2.618, $3.00, $3.16
