The rally that dominated for the majority of last week came to an end on Tuesday with X14 correcting sharply lower after failing at the 55-DMA. The sell-off found support at the rising daily trend line off Sept monthly lows but bulls now need a close above the 21-DMA to ease bearish pressure. While the 21-DMA caps, immediate focus remains on the $87.85-89.56 region where the 2014 low is located.
RES 4: $95.07 – High Aug 29
RES 3: $94.82 – 55-DMA
RES 2: $92.39 – 21-DMA
RES 1: $92.05 – Low Sept 25 now resistance
LPRICE: $94.33
SUP 1: $94.12 – Previous daily resistance now support
SUP 2: $92.57 – 21-DMA
SUP 3: $92.05 – Low Sept 25
SUP 4: $90.41 – Low Sept 22