Tom: The resistance is clear and visible & nearby, here's where we differ.....I see the recent support with prior strong price advance and pullback which held at a higher level...using standard indicators I envision an effort (still not proven) to move up!
So, I don't agree with a failure and drop to $5 or $4....
Let's see how this works out....it certainly is an INFLECTION level...
I've always thought that the market will move before news...