After having recently struggled to overcome the 21 & 55-DMAs bulls are taking comfort in the close above Wednesday. Immediate focus now shifts to the $52.72 resistance level with bulls needing a close above to provide some breathing space and shift immediate focus to the then key $55.05-56.05 region. Failures at the $57.72 hurdle would be a concern for bulls and hint at a retest of lower levels.
RES 4: $56.05 – 2015 High Jan 2
RES 3: $55.05 – High Feb 3
RES 2: $54.38 – Bollinger Band top
RES 1: $52.72 – High Feb 19
PRICE: $51.75
SUP 1: $49.45 – Low Mar 3
SUP 2: $47.77 – Bollinger band base
SUP 3: $47.47 – Low Feb 2
SUP 4: $44.37 – 2015 J15 Low Jan 29
