Bulls take some comfort in the bounce from ahead of the recent 2014 low and relatively bullish close Wednesday. In saying that, layers of resistance remain $79.44-84.08. Bulls need a close above the falling channel top to ease bearish pressure and above the 21-DMA to hint at a bigger bounce with above the key $84.08 resistance confirming and targeting the $87.78-90.56 region.
RES 4: $83.26 – High Oct 21
RES 3: $81.38 – 21-DMA
RES 2: $79.75 – Falling daily channel top
RES 1: $79.44 – Low Oct 28 now resistance
LPRICE: $78.74
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