Impressive rally took prices to and above the May highs which could be considered a “breakout” from the recent range boredom. Be careful here as that is just step one to conclude whether it is a break out or just a head fake. Volume was up on Monday — open interest — flat. Be patient at these times.
Major Support: $3.054-$3.007, $2.97, $2.727, $2.648, Minor Support :$3.46, $3.30-$3.26 Major Resistance: $3.628, $3.86, $4.168, $4.461, $4.501
