Major Support: $2.346, $2.212-$2.207, $2.185,$2.12, $2.029 Minor Support: $2.27 Major Resistance: $2.48-$2.52, $2.716-$2.755, $2.884-$2.908, $2.984 Minor Resistance: $2.642
The market showed some serious juice — just when I was not around to comment. Well actually, the juice came on Monday and Friday and the rest was rather un-inspiring. Let me summarize in technical terms — prices choose to blow down through some serious support zones and now look to challenge lows from October and possibly August. To say it had a bearish bias is an understatement, but don’t put this tech guy in the camp of winter rallies are over. The CFTC data was not published but I can assure you some additional speculative shorts entered last week. What does it mean?— look for additional probes lower testing support below.
