The $54.24 resistance level continues to confirm significance with H15 again stalling around this level. Initial support is noted at $51.03 with bears needing a close below to ease bullish pressure and below $47.36 to confirm a break of the 21-DMA and target 2015 lows. While $51.03 supports bulls favour a break higher that initially targets the $59.53-60.21 region. The Bollinger band top remains the key concern for bulls.
RES 4: $59.53 – High Dec 17
RES 3: $58.45 – 38.2% Fibonacci retracement 82.50-43.58
RES 2: $55.51 – High Jan 2
RES 1: $54.24 – High Feb 3
PRICE: $52.58
SUP 1: $51.03 – Low Feb 13
SUP 2: $48.83 – 21-DMA
SUP 3: $47.36 – Low Feb 5
SUP 4: $46.67 – Low Feb 2
