Recent flirtations with the 21-DMA ($50.89) and failures ahead of the 55-DMA resulted in a sell-off that sees the contract pressuring $47.47. Bears remain focused on a break lower that initially targets the $43.58-44.37 region while the 55-DMA caps. Layers of resistance remain $51.60-56.05. Bulls now need a close above $52.72 to confirm a break of the 55-DMA with a close above $56.05 seeing immediate bullish focus shift to $59.74-63.20
RES 4: $55.05 – High Feb 3
RES 3: $53.31 – Falling daily trend line
RES 2: $52.72 – High Feb 19
RES 1: $51.60 – 55-DMA
PRICE: $48.94
SUP 1: $47.47 – Low Feb 2
SUP 2: $46.55 – Bollinger band base
SUP 3: $44.37 – 2015 J15 Low Jan 29
SUP 4: $43.58 – 2015 Continuation contract Low Jan 29
