Fresh 2015 and 5+ year lows continue for G15 with the Bollinger band base limiting follow through as bears remain firmly focused on the falling daily channel base and then 2008 & 2009 lows. Layers of resistance remain with bulls now needing a close above $50.37 to confirm a break of the channel top and an easing of bearish pressure. Overall a close above the 21-DMA is now needed to hint at a bigger bounce initially targeting $59.27.
RES 4: $52.44 – 21-DMA
RES 3: $50.37 – High Jan 6
RES 2: $49.74 – Falling daily channel top
RES 1: $46.83 – Low Jan 7 now resistance
LPRICE: $45.35
SUP 1: $44.86 – Bollinger band base
SUP 2: $38.58 – Falling daily channel base
SUP 3: $37.12 – 2009 Low Feb 2009
SUP 4: $35.13 – 2008 Low Dec 2008
