A little consolidating bounce off the lows for the May thanks to a let up in fund selling but moreover some assertion from the commercial buying. Today's session was slightly constructive, but the onus is still on the longs to prove that sub 50 cents is good value.
Moving averages are both trending lower, with the 9 day widening out over the 50 day at 53.02 (compared with 51.23). Momentum continues negative with the RSI down to 30.31, though it must be noted that yesterday's low reading of 24.00 is largely oversold.
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