G15 remains heavy with the fresh 2014 and 5+ year lows seeing immediate focus on the Bollinger band base and overall focus on the $43.19-46.72 region where the falling daily channel base is located. Initial resistance is noted at $55.11 but bulls now need a close above the 21-DMA to ease bearish pressure. Overall a close above $59.27 is needed to hint at a bigger bounce targeting the $65.61-69.63 region where falling daily trend lines are located.
RES 4: $62.25 – Low Dec 9 now resistance
RES 3: $59.27 – High Dec 17
RES 2: $56.62 – 21-DMA
RES 1: $55.11 – High Jan 2
LPRICE: $51.77
SUP 1: $49.98 – Bollinger band base
SUP 2: $46.72 – Monthly Low Apr 2009
SUP 3: $43.19 – Falling daily channel base
SUP 4: $37.12 – 2009 Low Feb 2009
