Technical Indicators: chart has formed a pointing to higher prices. has potential for a move higher, but may also form an island top with a dip lower before going higher, should traders react negatively to weather forecast for end of October - beginning of November.
The bars on a price chart (see circle on top chart) showed limited buying at $2.8 level. Support for November contract is seen at around $2.7 level. Some analysts see support at $2.595 - $2.572 levels, should weather models lose TDDs later in October.
Higher prices on Monday afternoon were supported by cold shot over Plains and Rockies and trader optimism.