Major Support: $2.52, $2.41-$2.38, $2.212-$2.207, $2.185,$2.12, $2.029 Minor Support: $2.57, $2.33 Major Resistance: $2.72, $2.751, $2.824-$2.908
Price rallied at the end of last Friday which leads me to believe something changed in forecasts. All I know is significant resistance areas got pierced in rather easy fashion up to the Sept high of $2.71. Early trade on Sunday has that level taken out but I want to see it on a close. They market is over-bought but in a short covering rally (warned you about that a week ago with a picture) technical levels of resistance are somewhat useless. If you are short — well you were warned- if you are long —remember that rallies based on short covering are not long for life. Continue to monitor open interest and if it starts to increase when prices increase — watch out.
