The bounce from marginally below the 21-DMA last week has seen pressure return to the $54.24-55.77 region where the 55-DMA and falling daily trend line are located. Bears now look for a close below Friday’s $50.72 low to ease pressure on the $54.24-55.77 region and to shift focus back to the $45.83-47.97 region. Bulls now look for a close above the falling daily trend line to target $67.53-69.74 where the 100-DMA is located
RES 4: $59.53 – High Dec 17
RES 3: $55.51 – High Jan 2
RES 2: $55.37 – Falling daily trend line
RES 1: $54.24 – High Feb 3
PRICE: $52.21
SUP 1: $50.72 – Low Feb 6
SUP 2: $47.79 – 21-DMA
SUP 3: $47.36 – Low Feb 5
SUP 4: $46.67 – Low Feb 2
