Read in the press that the rally yesterday was all about the weather forecasts that modified cooler over the weekend. Oh–Ok. Perhaps that had something which added to the technical indication which showed another test of support at the low end of the range — only to fail. Yes, the weather issues may have provided the gasoline to force the shorts to cover– but the volume and price movement is more of a convincing argument to this analysis. The range for the Nov contract has likely been established.
Major Support: $3.06, $3.00-$2.97, $2.843, $2.727, $2.648 Minor Support : $3.16 Major Resistance: $3.19, $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,
