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The resistance was provided by the 38.2 percent Fibonacci retracement on the downtrend from the July 15 high of $1.5765 to the Aug. 17 low of $1.3785. The next resistance will be at $1.4775, a break above which could open the way to $1.5010.
The contract could have resumed its uptrend from the March 1 low of $1.1940. This trend could easily extend above $1.5765 over the next few weeks. A break below $1.4540, now a support, could cause a limited loss to $1.4420, the Aug. 15 high.