Following on from the recent close below the 21-DMA ($50.57) the contract remained capped around this level Tuesday with bulls looking for a close above the 55-DMA to regain the upper hand above $55.05 to hint at a substantial rally. Immediate bearish focus remains on the $47.47-48.20 region with a close below confirming the shift in focus back to 2015 lows with the Bollinger band base noted just ahead.
RES 4: $55.05 – High Feb 3
RES 3: $54.11 – Falling daily trend line
RES 2: $52.11 – 55-DMA
RES 1: $50.99 – High Feb 23
PRICE: $49.31
SUP 1: $48.20 – Low Feb 15
SUP 2: $47.47 – Low Feb 2
SUP 3: $45.47 – Bollinger band base
SUP 4: $44.37 – 2015 J15 Low Jan 29
