Finding a little support prices managed to rebound and soften some of the momentum indicators and other technical indicators — but yesterday’s action sent the market back to where it started the week. As consolidation processes take place the market needs to test both ends of the range in order to develop the upcoming break down or break out. This may take so time — it did last year for four weeks in Dec ’21 and Jan ’22 before the gradual building of support into Q2.
Major Support: $3.638-$3.536 Minor Support: Major Resistance$4.22-$4.39, $4.75-$4.825, $4.948, $5.056
