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Author: Willis Bennett
Solid Test of Support Trend Line
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Historical Weakness in Early Dec Continues
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January Takes Over
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Break Out Through Resistance
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Expiration With Limited Comments
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As Expected — Retrace to New Support
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Key Resistance Falls — Does it Hold as Support
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What Will Break the Range?
The range that we have discussed for the last two weeks remains and discussions about the options and potential outcomes is discussed in the Weekly. On the Daily, not much has changed since last week as the market seems to be waiting on the next piece of news that will impact price (guess the warming forecasts aren’t enough).
Major Support: $5.61-$5.44, $4.716, $4.705-$4.68
Minor Support: $5.47
Major Resistance: $6.41-$6.456, $6.74,$7.00, $7.18, $7.532, $7.71-7.75, 8.021,
Consolidating For a Run or Break Lower
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