Daily Continuous
The price decline took prices down to levels not seen since last December before finding some support. If you are a long time subscriber, you are well aware that I don’t participate in the expiration trade and very rarely work the upcoming prompt (in this case it is the June contract). I will be watching the spread between expiring May and upcoming June prompt over the next two days. Will update over the weekend and define thoughts in the Weekly section on Monday.
Major Support: $2.97, $2.727, $2.648,
Minor Support :
Major Resistance: $3.16, $3.628, $3.86, $4.168, $4.461, $4.501, $4.551, $4.746-$4.75, $5.03