Prices started lower on Sunday night (similar to recent weekend prices) only to find support on the open of the outcry which took prices up to $5.17 before the selling resumed. Unlike the previous Monday’s, prices retraced and settle the day down. As discussed yesterday, the market should build a consolidation period to launch into the Q4 run that will be coming later this fall. Would expect a test of support somewhere between today’s low and $4.75 during the near term. The only caveat to that expectation is the history of expiration rallies for the last few months.
Major Support: $4.879, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92, $3.821, $3.722, Minor Support: $4.90, $4.728-$4.70, $4.65 Major Resistance: $5.24, $5.486, $5.65, $5.93
