Layers of resistance remain in the $74.48-78.08 region with bulls now needing a close above $74.45 to ease bearish pressure and above $78.08 to confirm a break of the 21-DMA and falling daily channel top. This would shift initial focus to $79.85 and overall focus to $82.71-83.58. Fresh 2014 and 4 year lows now see bears targeting the daily channel base at $69.79 with the Bollinger band bases seen as key concerns.
RES 4: $78.08 – High Nov 12
RES 3: $76.59 – 21-DMA
RES 2: $75.45 – Low Nov 24 now resistance
RES 1: $74.48 – High Nov 26
LPRICE: $72.80
SUP 1: $72.29 – Bollinger band base
SUP 2: $71.53 – Weekly Low Aug 2010
SUP 3: $70.76 – Monthly Low Aug 2010
SUP 4: $69.79 – Falling daily channel base
