The $54.24 resistance level continues to confirm significance with H15 again stalling around this level. Repeated failures have resulted in a break of the channel base and immediate focus having shifted to the 21-DMA. The pullback eased bullish pressure a little with bears needing a close below the 21-DMA to hint at a move back to the 2015 low and below $46.67 confirming. Bulls need a close above $54.24 to regain the upper and hand and target $62.25-65.40.
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
LPRICE: $50.58
SUP 1: $49.21 – 21-DMA
SUP 2: $47.36 – Low Feb 5
SUP 3: $46.67 – Low Feb 2
SUP 4: $43.58 – 2015 Low Jan 29
