J15 remains capped by 21 & 55-DMAs with layers of resistance noted in the $51.12-56.05 region. Bulls continue to look for a close above $52.72 to confirm breaks of 21 & 55-DMAs although a close above $56.05 remains needed to hint at a substantial rally and shift focus to the $59.74-62.39 region. While the 55-DMA caps a bearish bias dominates with focus on the 2015 low. A close below $47.47 would add significant weight to the bearish case.
RES 4: $56.05 – 2015 High Jan 2
RES 3: $55.05 – High Feb 3
RES 2: $52.72 – High Feb 19
RES 1: $51.12 – 55-DMA
PRICE: $50.51
SUP 1: $47.77 – Bollinger band base
SUP 2: $47.47 – Low Feb 2
SUP 3: $44.37 – 2015 J15 Low Jan 29
SUP 4: $43.58 – 2015 Continuation contract Low Jan 29
