X14 appears on track to test the 2012 low as losses continued on Tuesday, confirming bearish pressure. Initial resistance is now noted at $83.59 with bulls needing a close above to ease bearish pressure whereas a close above the $86.83 level is now needed to hint at a bigger bounce back towards the $89.66-90.74 region where the 21-DMA is located. O/S daily studies and the Bollinger band base remain key concerns for bears.
RES 4: $89.66 – 21-DMA
RES 3: $88.18 – Previous daily support now resistance
RES 2: $86.83 – Previous daily support now resistance
RES 1: $83.59 – Low Oct 10 now resistance
LPRICE: $81.90
SUP 1: $81.32 – 2014 Low Oct 14
SUP 2: $77.28 – 2012 Low June 2012
SUP 3: $75.15 – 2011 Low Oct 2011
SUP 4: $73.58 – Weekly Low Sept 2010