Not sure what news hit the market when it re-opened yesterday at 6 p.m. EDT – but it sent prices through support and created a lower low this week only to rebound at the time of this writing. Either somebody had to get out of length (immediately- say margin call) or somebody is trying to play with prices, which I remember back 15-20 years ago, by trying to influence a trend when participation was light. Regardless, it is still trading in the recent range– so play accordingly.
Major Support: $1.611-$1.59, $1.555-$1.519 Minor Support: $1.705-$1.649 Major Resistance: $1.90, $1.974, $2.019- $2.029 Minor Resistance: $1.864-$1.896
