As mentioned in the Tuesday Daily, prices seemed destined to test some of the lows from December ’21 and that is what they did, but instead of collapsing further, they found a bid. Yesterday, they chose to rally back to $4.22 (still well short of where they were last Friday). All I can and will continue to say is the important historical tendencies of early January trade to prices for the mid-term (see numerous posts from last week and the Weekly section currently). Is the low being established? no clue– but will respect the indications of trade behavior.
Major Support: $4.149, $3.638 Minor Support: Major Resistance$4.22-$4.39, $4.75-$4.825, $4.948, $5.056
