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The support is identified as the 61.8 percent projection level of an upward wave c from $8.37-1/4. The next support will be at $8.53-1/2, a break below which could cause a further loss to $8.47-1/4.
The contract dropped below a falling trendline at the same time. Unless it could climb above this line soon, the downtrend from $9.22-1/4 will be likely to resume.
Resistance is at $8.67-1/4, the 50 percent retracement of the downtrend from $9.22-1/4 to $8.12-1/4. A break above this barrier could lead to a gain into the range of $8.74-$8.80.