As the predecessors before it this year, the August contract was amply offer into the close last week and traded below $2.00 for the first time since last spring. Go into expectations in the Weekly section, so I will not repeat here. Suffice to say that the lower weekly close is a bearish indicator and none of my momentum indicators show the market as oversold (though approaching) so an am;y offered expiration should still be in the cards — though late Sunday trade has the market firming.
Major Support:, $1.848, $1.52-$1.511, $1.481, $1.312 Minor Support : $2.00, $1.967- $1.94 Major Resistance: $2.39, $2.44-$$2.502, $2.618, $3.00, $3.16
