Prices have fallen some 40% since the start of the year, with a climactic selling move occurring on Aug 14 when volume surged. The decline will probably decelerate from now on as prices attempt to build a base.
They would still drift lower, but the largest falls are probably over. Support appears at 76 cents, a level representing the top of a double bottom formed in 2011. Short-term oversold pressures could trigger a bounce in the week of Aug 19 to 23, but this is likely to be mild.
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