Layers of resistance now noted $55.510-56.57 confirmed significance Wednesday with H15 correcting sharply lower from ahead of this region, easing bullish pressure and shifting immediate focus to the $46.67-47.92 region. Bears need a close below $46.67 to confirm a break back below the 21-DMA and to shift immediate focus to the 2015 low. Bulls now need a close above $49.69 to provide breathing room and above $56.57 to hint at a sustained rally.
RES 4: $56.57 – Falling daily trend line
RES 3: $55.95 – 55-DMA
RES 2: $55.51 – High Jan 2
RES 1: $49.69 – Low Feb 3 now resistance
LPRICE: $48.41
SUP 1: $47.92 – Hourly support Feb 2
SUP 2: $47.62 – 21-DMA
SUP 3: $46.67 – Low Feb 2
SUP 4: $45.83 – High Jan 28 now support
