Price volatility settled back a little last week as the price range stayed within the previous week’s range. While challenging the $5.00 level, the move was rejected on Friday with the retreat to a higher weekly close. Would expect some correction before the market heads into the 13 month trend of higher expiration rallies. In the Weekly section of the web site I discuss the limitations of further declines in the coming couple of months.
Major Support:$4.40-$4.26, $4.187, $3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: $4.88, $4.60-$4.557 Major Resistance: $5.04, $5.08, $5.18
