Long weekends with Sunday and Monday trading coming into Tuesday are always hard to interpret and this last weekend is no different — with prices off hard on Sunday and Monday only to find some buyers yesterday– supporting the move. After the recent collapse, do price consolidate for a day or two (which would be my expectation) or do they continue the declines. Went into the key area for support on the Weekly section, so I will not re-hash that here as the market is playing with key level for the rest of summer and the expiration trend of the last 15 months.
Major Support: $6.426 Minor Support: $$6.60, $6.245, Major Resistance:$7.66, $7.725, $7.816, $7.955
