Focus into next week centers upon market response to key support, 2.20s-2.18s. Sell-side failure to drive price lower from this area will target key supply clusters above, 2.38s-2.40s/2.41s-2.44s, respectively. Alternatively, buy-side failure to drive price higher from this area will target key demand clusters below,2.16s-2.11s/1.95s-1.80s, respectively. From a structural perspective, the highest probability path remains sell-side, barring 2.26s failing as key resistance. The four-year demand cluster, 2.20s-1.50s, which we have noted for months and which the market revisited, remains key to the larger structural view. In the intermediate term (3-6 months) context, conditions in the leveraged capital posture reflected signs of potential structural low formation as the market traded to this major demand area.