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The support is provided by the 100 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle from the July 14 high of $3.80.
The bounce from the July 22 low of $3.33-1/4 and the bullish divergence on the hourly RSI suggests the wave c could have ended. The contract has briefly pierced above a resistance at $3.40-3/4, the 76.4 percent projection level, it may have a better chance of testing the 61.8 percent level at $3.45.
A further drop from the current level could be limited to $3.37-3/4, the 86.4 percent level.