Flirtation with the falling daily channel base continues with a close below $59.30 needed to target the $56.74 weekly low from May 2009. Layers of resistance remain with bulls needing a close above $65.55 to ease bearish pressure and shift immediate focus back to the $69.54-73.30 region where the channel top and 21-DMA are located. O/S daily studies remain a key concern for bears and the Bollinger band base is limiting follow through
RES 4: $69.57 – Hourly resistance Nov 28
RES 3: $68.23 – High Dec 3
RES 2: $65.55 – High Dec 8
RES 1: $64.20 – High Dec 9
LPRICE: $63.07
SUP 1: $60.43 – 2014 Low Dec 10, Falling daily channel base
SUP 2: $59.46 – Bollinger band base
SUP 3: $59.30 – Monthly Low July 2009
SUP 4: $56.74 – Weekly Low May 2009
