The 10 month moving average comes in at 6.6c at present which is why you've seen the support around this region. Note that this is a monthly moving average, so we'll not know whether it has held until months end.
If this level doesn't hold, next stop is 5.5c which is the 35 month moving average and the 200 week moving average, which should see strong support.
The variables obviously include an announcement out of the blue, or oil sustaining its fall below its long term lows of $64 and $58.
Add to My Watchlist
What is My Watchlist?
