Weekly Continuous with Trend Lines of Support and Resistance
As hypothesized in the Weekly section earlier in the week — a break above the trend line may provide some short covering movement extending prices higher. Would not expect a major covering rally but one that should take prices well above $2.38 and into the $2.40’s. A key will be does the break above hold the Weekly chart– if not then its a false breakout and back to test support.
Major Support: $2.00, $1.991-$1.96, $1.795-$1.766 Minor Support: $2.17 Major Resistance$2.413, $2.543-$2.604, $2.836, $3.00, $3.536, 3.595
