Good post, Steve, I agree completely. A few points, yes, 4.50 appears on the picture now, as well as the support zone around 4.60 area. Yes, watching the bounces is a clue. Rolling over, and how far down, we see pattern of price tumbling 50 cent moves, 70 cent moves, 30 cent moves, any frequent patterns become clues. Where did the large downwave begin.... 6.60 area. 1 dollar down, 2 dollars down. We watched the big target zone at the 200 MA, now the big target zone at 4.60. Not a prediction, it's something to watch for. I see 4.80 as just as important. But also 4.50 . It's a target zone. And, we have all year to pass slowly, lots of time for sellers to bleed the price down, like weeks sliding along 6.00/6.40.... then tumbling down. We could see that same pattern again, now sliding for weeks around 5.00/5.30, and then tumble down to the Intended Target zone / 4.50 area.
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