FWIW, the recent price action looks suspiciously like a price...

FWIW, the recent price action looks suspiciously like a price breakdown to me......it is not confirmed as yet, but is quite vulnerable.

On the Weekly, it is pretty clear.....price needs to recover back over 2.15 to be a chance at avoiding the breakdown.



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On the daily if you carry the line across from the January 2016 lows @2.12, you can make a (weak) case of some sort, that 'last gasp' support lies at that level.  In this case though, price accelerated strongly high after that event, and has since come off strongly, so I have some doubts that support will still be there.   I am always much more inclined to use more recent support if possible, as the further back you go the lower the chance the previous support still exists at that level.



cheers