Quarterly momentum is testing a support at its equilibrium line for the fourth time and the indicator appears poised for a breakdown. If this materialises, the rate of decline could pick up.
Prices fell below a minor uptrend and support at $4.20 as the moving averages were forming a negative cross. Immediate support is at $4, and a break below this level indicates a target of $3.60. Since medium-term indicators are in declining mode, a break below $4 looks increasingly probable.
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