Despite yet another dip below the $80.00 level Z14 was unable to manage a close below on Friday. In saying that, bearish dominance continues with layers of resistance noted in the $81.32-84.08 region. Bulls now need a close above the falling daily trend line to ease the bearish pressure that is currently pressuring the $79.10-44 region with a break lower confirming overall focus on $75.15-77.28
RES 4: $84.08 – High Oct 16
RES 3: $83.26 – High Oct 21
RES 2: $82.85 – 21-DMA
RES 1: $81.32 – Falling daily trend line
LPRICE: $80.37
SUP 1: $79.44 – Low Oct 28
SUP 2: $79.10 – 2014 Low Oct 16
SUP 3: $77.28 – 2012 Low June 2012
SUP 4: $75.15 – 2011 Low Oct 2011