It is beginning to look like prices aren’t going to melt down on the run up to $3.15 as they did in previous runs. The other major difference is the fact that open interest is gaining while prices have traded over $3.00 and the volume this week is greater (on average) than last week. This is starting to look like a consolidation pattern that will keep the floor around $2.90-$3.00.
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
