Prices gaped lower on the open Sunday night and traded in a tight range until the end of the day which provided a slight bounce. Expiration is upon us and I am of the belief that the low of the expiration has been established. Even with this dramatic decline, the long term bias analysis (discussed three weeks ago) remains in place. That said, all the near term charts have gaps in them which the market will need to define further. Trade carefully in the coming two days.
Support: $2.373, $2.255-$2.176 Minor Support: $2.162 Major Resistance: $2.55, $2.74-$2.789, $2.98-$3.05, Minor Resistance: $2.515
