The market seems to be establishing a new (or latest) range for prices to work with in. What was old resistance at $3.00 now seems to provide support for declines and the highs have now created $3.20 as the new high end of the range. We have witnessed the price to work within the range that has developed in each of the last three months, though each range had different values for support and resistance. This type of stepping upward is a characteristic of longer term runs but we are headed into a notoriously and consistent period of the year (Q3) for lower prices. A struggle may be brewing (not this week but later in the month) for rallies to endure and extend.
Major Support: $3.00 $2.914-$2.886, $2.78, $2.71-$2.70, $2.658, $2.52, $2.422-$2.414 Minor Support: $2.876, $2.694, $2.483, $2.162 Major Resistance: $3.12-$3.15, $3.198, $3.251, $3.31, $3.396
