The up-trend is in trouble following Wednesday’s closing price reversal combined with daily studies looking to correct from O/B levels and the close below the previous 146.73 support. A close below 146.33 adds further weight to the bearish case that sees immediate focus now on the 145.66-89 region and overall focus on the 144.03 June monthly low, although the 55-DMA is noted at 144.87. Bulls need a close at fresh 2014 highs to reignite the up-trend.
RES 4: 147.45 Weekly Bollinger band top
RES 3: 147.41 Bollinger band top
RES 2: 147.39 Trend line projection
RES 1: 147.25 U14 2014 July 2
PREVIOUS CLOSE: 146.55
SUP 1: 146.33 Previous U14 2014 high now support
SUP 2: 145.89 21-DMA
SUP 3: 145.66 Low June 20
SUP 4: 144.90 Low June 12