Prices continued from where they ended on Friday and lost another 12% yesterday taking the prompt below $7.00 (though that level was holding in the late trade). Now prices could settle in and try some consolidation but don’t hold your breath. The trend line on the Daily Chart will likely give us some short term directional bias. This support zone (trend line) may hold down to $6.40 will create the bottom side of the range for the remainder of May.
Major Support:, $7.00-$6.855, $6.411-$6.392, $6.247-$6.278, $5.27-$5.199, $5.001, $4.40-$4.26, $4.187 Minor Support: $6.00, $5.063, $5.04, $4.88, $4.60-$4.557 Major Resistance: $8.47-$9.60
