Layers of resistance are clustered in the $46.83-52.03 region with bulls needing a close above $46.83 to ease bearish pressure. A close above $52.03 is needed to end bearish hopes and shift immediate focus to the $59.27 level. While the falling daily channel top caps, bears remain focused on the falling daily channel base with the Bollinger band base and O/S daily studies seen as key concerns for bears
RES 4: $52.03 – Low Jan 2 now resistance
RES 3: $50.37 – High Jan 6
RES 2: $48.97 – Falling daily channel top
RES 1: $46.83 – Low Jan 7 now resistance
LPRICE: $45.47
SUP 1: $44.06 – 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
