A study on the first month continuous chart suggests a 14% gain from the current level. When applied to the July contract, this percentage indicates a target of $8.50.
The uptrend is expected to reverse in the range of $15.98 to $16.24. Support is at $15.41-1/4, a break below which could cause a fall into $15.14-1/4 to $15.30-1/4 range.