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. The pullback from ahead of key resistance layers ease bullish pressure a little with a close below the 21-DMA needed to end bullish hopes and to shift immediate focus back to the 2015 low. The Bollinger band top and O/B studies are key concerns for bulls.
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: $50.38
SUP 1: $47.79 – 21-DMA
SUP 2: $47.36 – Low Feb 5
SUP 3: $46.67 – Low Feb 2
SUP 4: $43.58 – 2015 Low Jan 29
