This is the update of my Aug. 23rd post.

Last week I said we needed to watch so see if price would stay above, or break below, the marked weekly support levels.  In the chart here, we see that this past week there was a definitive break below.  But, Wednesday through Friday, it seemed to have halted its decline.  There are no significant Midas curves in the vicinity of where it halted, so in this case, we have to look to other, traditional support/resistance methodologies for guidance.  Overall, the Midas curves are more plentiful and robust, but occasionally, such as now, others are needed.  We see that price halted at the horizontal support level defined by the May 25th low, and indicated on this chart here by the horizontal gray line.  So, at least for now, the decline on this short term timeframe has halted.

So far, price is remaining far below any of the resistances above it, so there’s no indication, so far, of a trend reversal.

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