J15 remains below the 21 & 55-DMAs with layers of resistance noted in the $51.39-56.05 region where the 55-DMA is located. Bulls continue to look for a close above $52.72 to confirm a break of the 55-DMA although a close above $56.05 remains needed to hint at a substantial rally and shift focus to the $59.74-62.39 region. While the 55-DMA caps a bearish bias dominates with focus on the 2015 low.
RES 4: $55.05 – High Feb 3
RES 3: $53.03 – Falling daily trend line
RES 2: $52.72 – High Feb 19
RES 1: $51.39 – 55-DMA
PRICE: $49.38
SUP 1: $47.54 – Bollinger band base
SUP 2: $47.47 – Low Feb 2
SUP 3: $44.37 – 2015 J15 Low Jan 29
SUP 4: $43.58 – 2015 Continuation contract Low Jan 29
