Continued consolidation of prices has taken prices off the over bought levels and now sit at some very normal zones. There are two ways of correcting over bought conditions and one is a major correction, the other is time. It looks like the current market is utilizing time for the correction to the over bought status. Continue to play the current range from $2.35-$2.50 until the market explains further intentions.
Just and FYI take a look at the Weekly section as I expand on the year of 2002 that I hinted to yesterday.
Major Support: $2.38-$2.415, $2.186, $2.162, $2.089-$2.055, $2.029-$1.937, $1.86, $1.527,
Minor Support: 2.377, $2.28, $2.255, $2.195, $2.102, $1.975
Major Resistance: $2.743-$2.755, $2.809 Minor Resistance:$2.49-$2.51, $2.56