The sharp sell-off Thursday bounced aggressively from ahead of the 2014 low with bulls taking some comfort in the relatively bullish close. The 21-DMA remains key resistance with bulls needing a close above to confirm an easing of bearish pressure and a shift in focus to the 94.28-73 region where 55 & 200-DMAs are located. While the 21-DMA caps bears target the 2013 low with the Bollinger band base the key concern.
RES 4: $95.07 – High Aug 29
RES 3: $94.28 – 55-DMA
RES 2: $91.85 – 21-DMA
RES 1: $90.41 – Previous daily support now resistance
LPRICE: $89.60
SUP 1: $89.38 – Hourly support Oct 2
SUP 2: $89.05 – Weekly Bollinger band base
SUP 3: $88.85 – Low Oct 2
SUP 4: $87.85 – 2014 Low Jan 13