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Declines Commence to Test Support
Daily Continuous
Major Support: $2.903-$2.891, $2.876-$2.813, $2.797, $2.773
Minor Support: $3.016
Major Resistance: $2.998, $3.112-$3.127, $3.198, $3.213-$3.218
Minor Resistance: $2.971, $3.074, $3.153
Prices continued the probe to test the near term support and now they are faced with the area that prices jumped up and through after the Holiday. It wasn’t a gap but the meltdown over Thanksgiving and then the rebound on the Sunday night after, is an area that will find some buyers. A break below that area ($2.876-$2.813) will clearly set up a the expiration lows from the Nov expiration. Once again prices are at the abyss, similar to the Holiday experience. If they find a bid then we will likely return to the middle of the 5 month range, waiting for the next catalyst.
Past Daily Calls
- Nov 16, 2018 — Right Call, Right Time
- Nov 15, 2018 — Record RSI Climbs to 97
- Nov 14, 2018 — Record RSI on Close
- Nov 13, 2018 — Attack of $4.00
- Nov 12, 2018 — Did Not See That $.20 Extension
- Nov 9, 2018 — Here We Sit On an Island
- Nov 8, 2018 — No Serious Decline Into Gap
- Nov 7, 2018 — Digesting the Gains
- Nov 6, 2018 — Short Covering Rocks Prices
- Nov 5, 2018 — Short Covering Rocks Prices