Gains From Last August — Gone

Daily Continuous

Looking at the Chart above you will notice that all of the run since the first week in August has now been eliminated — that does not mean that any potential rally can’t happen– but yesterday’s follow through, likely means that rallies will provide good places to sell to traders. Yesterday, mentioned that the bias had been modified to neutral and with the extension below additional support zones, the trade bias is now distinctly bearish.

Major Support: $4.561, $4.375, $4.276, $3.944
Minor Support:
Major Resistance: $4.61, $4.67, $4.735, $4.825, $5.109-$5.175, $5.339-$5.40, $5.64, $5.964, $5.996

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