The resistance is provided by the 14.6 percent Fibonacci retracement of the downtrend from the May 2 high of $4.61-1/2 to the May 16 low of $4.20-1/4. The next resistance will be at $4.29-3/4.

The bullish divergence on the hourly MACD suggests the bounce from $4.20-1/4 may extend. However, it is not very clear if the bounce could develop into a short-term uptrend.

Support is at $4.23, a break below which could signal the continuation of the preceding downtrend.