Bulls continue to take comfort in bounces from ahead of 2014 and 4 year lows and below the Bollinger band base. The $78.08 resistance level confirmed its significance Friday with it capping the rally and the lack of follow through that resulted. Pressure remains on the $78.08 level to start the new week with a close above hinting at a sustained move higher and above $79.85 confirming. Bears need a close below $75.62 to reconfirm bearish pressure.
RES 4: $80.80 – 38.2% Fibonacci 93.07-73.22
RES 3: $79.85 – High Nov 10
RES 2: $78.08 – High Nov 12
RES 1: $77.74 – 21-DMA
LPRICE: $76.83
SUP 1: $75.62 – Low Nov 21
SUP 2: $73.22 – 2014 Low Nov 14
SUP 3: $72.53 – Weekly Low Aug 2010
SUP 4: $70.50 – Falling daily channel base
