The Bollinger band base ($77.02) is once again limiting follow through with fresh 2014 and 3 year lows seen Tuesday. Bears focus has now shifted to the $70.76-73.58 region last seen in Aug/Sept 2010. Layers of resistance remain $79.10-84.08 with bulls needing a close above the falling channel top to ease bearish pressure and above the key $84.08 resistance to end bearish hopes and target the $87.78-90.56 region.
RES 4: $81.67 – 21-DMA
RES 3: $80.28 – Falling daily trend line
RES 2: $79.44 – Low Oct 28 now resistance
RES 1: $79.10 – Previous 2014 Low Oct 16 now resistance
LPRICE: $77.07
SUP 1: $75.84 – 2014 Low Nov 4
SUP 2: $75.15 – 2011 Low Oct 2011
SUP 3: $73.58 – Weekly Low Sept 2010
SUP 4: $72.53 – Weekly Low Aug 2010