The sequence of lower daily highs continued Monday with fresh 7 month lows before a bounce from the Bollinger band base. The Bolli base remains a concern for bears as it may continue to limit follow through below. In saying that, bulls need a close above $94.99 to confirm a break back above the 21-DMA and ease bearish pressure whereas a close above the 200-DMA ($96.59) is needed to hint at further topside.
RES 4: $94.33 – 21-DMA
RES 3: $94.16 – Low Sept 4 now resistance
RES 2: $93.62 – Hourly resistance Sept 8
RES 1: $93.25 – Hourly resistance Sept 9
LPRICE: $92.90
SUP 1: $91.80 – Low Sept 8
SUP 2: $91.67 – Bollinger band base
SUP 3: $90.54 – Monthly Low Feb 3
SUP 4: $88.69 – 2014 Low Jan 13