Well that was a resolute decline on gaining open interest and an increase in volume. It would be convenient for me to announce the bearish trends in the market but instead, I will remind all that a few weeks ago– the weekly close could not be more bullish only to watch prices decline, and a before that mentioning it couldn’t look more bearish and prices rose. Prices look bearish going into this week with a couple of gaps in the daily chart (one above from last Monday and the one from last month on the downside). These gaps are highlighted on the chart above with the red horizontal lines. Don’t expect these gaps to b closed during the expiration process.
Major Support: $2.61- $2.621, $2.425,$2.373 Minor Support: Major Resistance:$2.82-$2.853, $2.887, $2.98-$3.05, $3.091, $3.151, $3.24, Minor Resistance: $2.663
