Friday Collapse — A Directional Indication or Short Term Profits
Daily Continuation
The collapse on Friday is concerning for the bulls, but the general action last week does not show that prices will extend significantly the losses from Friday’s trade. Go into the history about this time of year in the Weekly section, and would not be surprised to see some weakness as prices open today. It remains this analysts view, to follow history showing Q4 highs have been higher than Q3 highs in every year since ’00 except ’01, ’08, ’10, ’11 and ‘14. Be careful here to establish position for the upcoming Q4.
Major Support:$8.47-$8.40, $7.956-$7.91, $7.55, $7.14, $7.078, $6.88, $6.754,$6.38, $6.02, $5.623, Minor Support$$8.619 $7.35, $7.41, $6.42, $5.548, $5.40-$5.45 Major Resistance: $8.58-$9.021, $9.35, $9.40, 9.664–$9.67, $9.98
