Major Support: $1.83, $1.611 Major Resistance: $2.08-$2.10, $2.34, $2.437, $2.48-$2.52, $2.716-$2.755 Minor Resistance: $1.98, 1.994, $2.21
A comment from a subscriber today caught my interest, “will they (the bears) run out of money?” Good question cause I am sure the short positions will increase with the CFTC this week. We have seen this behavior before and it is just a matter of time or maybe this time is different and prices are headed to $1.50. I will not promote that bet just yet as the market is over sold from the momentum indications.
