The channel top continues to cap rallies with H15 trading at fresh 2015 and 6 year lows Thursday. Immediate focus remains on the daily Bollinger band base and overall focus on the channel base ($32.95). 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 confirm an end to bearish hopes and 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: $47.43 – 21-DMA
RES 1: $45.05 – Falling daily channel top
LPRICE: $44.60
SUP 1: $43.58 – 2015 Low Jan 29
SUP 2: $42.92 – Bollinger band base
SUP 3: $37.38 – Weekly Bollinger band base
SUP 4: $37.12 – 2009 Low Feb 2009
