Looking at the daily chart of the October contract, the price low today reached down to test its 100 day moving average at $38.63 (the price low was just $0.03 higher than that level). The high price at $41.27 was just one penny off of the 50 day moving average.
So the pair ping-ponged between onemoving average above, and one moving average below. It would take a move above, or below those moving averages to solicit a greater market reaction in the direction of the break.
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