Well — suggested yesterday that the trade looked to test support — little did I know that resistance just shy of $7.00 would be tested first before the reversal to test support and expand the low end of the range. Now will prices perform similar movements as to last July when prices closed below the commonly watched 200 day SMA? In July, prices closed below that key level three out of four days before finding the support to rally. The trend line from the Dec ’21 lows and the July lows and the SMA are key to near term trade.
Major Support: $6.519, $6.504, $6.38, $6.02, $5.623, Minor Support $6.42, $5.548, $5.40-$5.45 Major Resistance:$7.18, $7.532, $7.71-7.75, 8.021, $9.05-$9.12,$9.35, $9.40, 9.664–$9.67, $9.9
