The channel top continues to cap rallies as H15 hovers precariously above 2015 and 6 year lows with immediate focus on the daily Bollinger band base and overall focus on the channel base ($34.28). Bulls need a close above the 21-DMA to confirm a break of the channel top and an easing of bearish pressure. Overall a close above $52.46 is needed to shift focus to the $59.53-62.25 region.
RES 4: $55.51 – High Jan 2
RES 3: $52.46 – Low Jan 2 now resistance
RES 2: $48.44 – 21-DMA
RES 1: $46.38 – Falling daily channel top
LPRICE: $45.43
SUP 1: $44.35 – 2015 Low Jan 26
SUP 2: $43.07 – Bollinger band base
SUP 3: $37.55 – Weekly Bollinger band base
SUP 4: $37.12 – 2009 Low Feb 2009
