Not sure what piece of news stimulated the late morning run in prices but the reason is meaningless. The facts are the market is behaving just the way it should after breaking through support earlier. Support has been tested now the prices should test resistance, but the question is where will the test occur– at the high end of the recent range ($4.02) or somewhere in the $3.90’s. It should happen this week.
Major Support: $3.821, $3.722, $3.58, $3.538-$3.511, $3.385, $3.368-$3.316, $3.198, Minor Support: $3.508-$3.485 Major Resistance: $3.968, $4.187, $4.205, $4.238
