The break down last week had serious technical ramifications (discussed in the Weekly Section) but clearly the close below the major support area bodes for additional declines. The only issue with that is the 15 month trend for expiration being bullish– can prices rally above $6.884 (five day open) to keep that trend securely in track but any serious rally up to the $6.60 will keep the trend open for discussion.
Major Support: $6.245, $6.02 Minor Support: $6.19-$6.175 Major Resistance:$6.684, $7.005, $7.66, $7.725, $7.816, $7.955
