Nothing more to be said that when a market breaks support and ends up down for the eighth week of the last nine, closing on the lows — well it just doesn’t get any more bearish for prices the next week. Sure enough, when we opened Sunday and through the light trade day, prices moved lower. Discussed in the Weekly about thoughts on the market forming a base / consolidating, so give it a read. How low does the record oversold market go — no clue but the risk / return on new shorts is declining each day.
Major Support: $2.238-$2.22, $2.00, $1.795-$1.766 Minor Support: Major Resistance$2.34, $2.61, $2.657, $3.536, 3.595
