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Something Is Up

Weekly Continuous with Volume

Weekly Continuous with Volume

Daily Continuous

Daily Continuous

Major Support: $2.921,$2.891, $2.886, $2.87-$2.752 $2.73,$2.658

Minor Support: $2.95-$2.936

Major Resistance: $3.021, $3.053-$3.077,$3.099-$3.115

Minor Resistance: $2.986-$2.993,

This just not meeting the smell test.  Prices rise last week on high volume but open interest continued to decline (Thur through Thur)?  That is why the headline and you had a high volume week with little or not change in the CFTC release on trade positions as of July 11th. This is a consolidation trade pattern and though the July lows are likely in — you have to be respectful of the potential for rallies during the expiration process (we have seen it in some form every month since Dec).  This week sets up for being a key week for the expiration and for the next few weeks of trade.

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