As expected the price action is hard to analyze from a technical perspective with the lighter trade (volume and open interest) during the Holiday period. One element that should be respected that even with the nearly $.40 discount of February to the January contract the prices have stayed with in the range established in Q4. Would continue to expect this trend to hold during the last day of the January as prompt.
Major Support: $3.82, $3.75 $3.654, Minor Support/Resistance : $3.75,$3.65 Major Resistance: $4.00, $4.095,$4.16
