The $83.26-85.56 resistance region is key this week with bulls needing a close above $83.26 to ease bearish pressure and above $85.56 to confirm a break of the 21-DMA and hint at a bigger bounce targeting the $90.56-94.42 region where key DMAs are located. While $83.26 caps immediate focus remains on the 2014 low with a break lower confirming overall focus on the $75.15-77.28 region where 2011 & 2012 lows are located.
RES 4: $85.56 – High Oct 10
RES 3: $84.95 – 38.2% Fibonacci 94.42-79.10
RES 2: $84.08 – High Oct 16
RES 1: $83.26 – High Oct 21
PRICE: $80.98
SUP 1: $80.05 – Low Oct 23
SUP 2: $79.10 – 2014 Low Oct 16
SUP 3: $77.28 – 2012 Low June 2012
SUP 4: $75.15 – 2011 Low Oct 2011