The action yesterday created an inside range from the range on Monday– bu the key was they did not melt down from the rally as they did last week and earlier in February. This is a bullish indication that prices may consolidate the gains and extend higher later in the month. As a trader- I would like to see the market retrace to the break zone last week at $2.90 and then see how it reacts. Continue to play this new mini-range between $3.00-$3.15 for now.
Major Support: $2.914-$2.886, $2.78, $2.71-$2.70, $2.658, $2.52, $2.422-$2.414 Minor Support: $3.00, $2.876, $2.694, $2.483, $2.162 Major Resistance: $3.12-$3.15, $3.251, $3.31, $3.396
