Prices continued the melt-down as prices broke below the trend line of support from the March and May lows and extended the declines to the lows from May. Now what — as mentioned on the long term outlook- prices could decline beyond those May lows but will find a plethora of buyers as prices go down to the well supported lows. BTW- the Bollinger Band, discussed in the Long Term section, is at $1.56 currently.
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
