Discussed last week in the Daily that I was waiting for the market to decline into some support areas , testing the determination of the bulls. It looks like this period is starting to occur as the volume increased during the declines of last week. The declines should continue to test various levels of support, finding some buyers at each– the trade should follow that when the buying evaporates at a lower highs — selling resumes testing lower levels of support.
Major Support: $3.87, $3.722, $3.58, $3.538-$3.511, $3.385, $3.368-$3.316, $3.198, Minor Support: $3.821, $3.508-$3.485 Major Resistance:$4.187, $4.205, $4.238
