Time spent above the 21-DMA was brief for X14 with the close below Thursday reconfirming bearish pressure and seeing focus return to the $89.56 Sept 11 low. Bulls need a close above the 21-DMA to ease the bearish pressure and above $94.12 to hint at a bigger bounce although that brings the $95.07-88 region into the picture. Key concerns for bears come from the Bollinger band bases. A close below $90.50 would add weight to the bearish case.
RES 4: $95.77 – 200-DMA
RES 3: $95.07 – High Aug 29
RES 2: $94.12 – High Sept 16, Falling daily trend line
RES 1: $92.71 – 21-DMA
LPRICE: $91.39
SUP 1: $91.15 – Low Sept 19
SUP 2: $90.51 – Bollinger band base
SUP 3: $90.30 – Weekly Bollinger band base
SUP 4: $89.56 – Low Sept 11