Prices closed the shortened trade week with a gain, finishing the week above the highs from the previous week. That is a small element that the bulls can hang their hats on. What is becoming more and more an issue is the solid gains made by the differed contracts (check the abbreviated long term section on the web site). The market, though sending changing bias signals, remains in a range trade environment and the close last week was nearly in the middle of the range ($1.51-$2.00). In the middle of a range like this (coupled with the lack of volatility) I prefer bias bets to be made with options.
Major Support: $1.611, $1.555–$1.519, $1.481
Minor Support : $1.731, $1.833, $1.915
Major Resistance:$1.883, $1.993, $2.029, $2.08-$2.10, $2.34, $2.437,
Minor Resistance: $1.833, $1.915