2nd Lower Weekly Close

Daily Continuous

The market seems to be wanting to define a low to, what is likely, the new range and two daily tests of $2.69 and just below. Early trade on Sunday night does not indicate any early preference. The declines last week stopped at support from the 200 day SMA of the April contract (see below).

Spot April Contract

This week will likely provide indication whether this is serious support zone and the lower end of the range.

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