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February 11th Support and Resistance Levels
For today we have near term support levels located at the 1056.25′s area of price. If all held LONG inventory indexed to the 1056.25′s area of price goes neutral we will be back to a major Inventory Grab event with no more significant held LONG inventory in the March contract remaining.
Our near term and extended resistance levels start at the 1071.50′s with next at the 1072.50′s pricing level. More significant multi-day resistance remains at the 1077.00′s and next multi-day levels above this key 1077.00′s area of price is the 1085.75′s and the 1091.75′s.
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