** $1.60 must hold ** I've just had a look at a 3 year daily...

** $1.60 must hold ** I've just had a look at a 3 year daily high/low.

On my interpretation, support around $1.60 is crucial and must hold.

There's also a parallel trend channel possibly waiting to be filled on the way down if $1.60 fails.

This lower trend line connects the 2003 lows. The upper trend line uses the January 2004 low and the low of 12th. September 2004. This upper trend line will also currently offer support in the low $1.60s.