The declines held yesterday from the devastation from Monday’s trade and rebounded just slightly at the end. Of primary interest was the discount to the now prompt December remaining over $.50 during the meltdown of expiration. There is little technical reasons as to why Dec will not attempt to close the gap that now exists and the December contract declining to chase the lows of the Nov contract from Monday. The outstanding question will be around it being the Dec contract and expectations for weather changes going into the winter months.
Major Support:,$2.648, $2.35, $2.112, $2.026-2.00, $1.991, $1.93 ,$1.642, $1.605 Minor Support : $1.856,$1.89-$1.856 Major Resistance: $2.727-$2.784, $3.00, $3.16
