Hi Coral,
When looking at the long,long term chart back to about '92 a pretty solid horizontal support level seems to be right around 3.2 give or take a few tenths each way.

Looking at the chart, I suspect you could find 3 in there as support as well. I don't have any pretense of comparing my chart reading ability to Trades, Wayne or Yourself. I guess I understand Trades, Wayne a bit better because they post the charts and do a great job of explaining them as to what they see.

For my part, lacking their skills, I do what I can to try to contribute to their views (positive or negative) from all information that I have been able to absorb, right or wrong. Basically events/inputs that may not have yet shown up on the charts and may prove useful to keep in mind.

For your 3.25 or 3 levels, could happen but I think things may be getting squeezed pretty tight unless there is a "fire sale" among the producers. It could happen if our economy turns down and industrial consumption falls off.

Just my thoughts,
Lee