After failing ahead of layers of resistance now noted $55.51-56.17 earlier in the week bears were unable to capitalize on the move with it again bouncing from a dip below the 21-DMA. Bears now need a close below $47.36 to confirm a break back below the 21-DMA and to shift immediate focus to the 2015 low. Thursday’s bounce provides bull with some breathing room but a close above $56.77 is needed to hint at a sustained rally.
RES 4: $59.53 – High Dec 17
RES 3: $56.17 – Falling daily trend line
RES 2: $55.51 – High Jan 2, 55-DMA
RES 1: $52.56 – High Feb 4
PRICE: $51.11
SUP 1: $47.79 – 21-DMA
SUP 2: $47.36 – Low Feb 5
SUP 3: $46.67 – Low Feb 2
SUP 4: $45.83 – High Jan 28 now support
