The 21-DMA confirmed its significance on a close basis with the dip below Monday aggressively reversed and focus now having shifted to layers of resistance clustered in the $55.51-56.98 region where the 55-DMA and falling daily trend line are located. Bulls look for a close above the 55-DMA to add support to the bullish case and shift immediate focus to the $62.25 resistance level. Bears need a close below $49.69 to ease bullish pressure.
RES 4: $58.45 – 38.2% Fibonacci retracement 82.50-43.58
RES 3: $56.98 – Falling daily trend line
RES 2: $56.51 – 55-DMA
RES 1: $55.51 – High Jan 2
PRICE: $52.37
SUP 1: $49.69 – Low Feb 3
SUP 2: $47.92 – Hourly support Feb 2
SUP 3: $46.67 – Low Feb 2
SUP 4: $45.83 – High Jan 28 now support
