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(M18) Bull Channel Base Supporting For...>

BOBL TECHS
BOBL TECHS: (M18) Bull Channel Base Supporting For Now
*RES 4: 159.42 High May 7
*RES 3: 159.28 High May 8
*RES 2: 158.79 Low May 11 now resistance
*RES 1: 158.57 Hourly resistance May 14
*PREVIOUS CLOSE: 158.27
*SUP 1: 158.18 Daily Bull channel base
*SUP 2: 157.88 100-DMA
*SUP 3: 157.43 Low Mar 24
*SUP 4: 157.34 Low Mar 14
*COMMENTARY: The bull channel base off Feb 15 lows confirmed significance and
supports. Bears look for a close below the 100-DMA to confirm immediate focus on
157.34-43 with below 157.34 to initially target 156.22. Daily studies are well
placed for a fresh leg lower. Layers of resistance accumulating adds weight to
the bearish case. Bulls now look for a close above 158.79 to gain breathing room
and above 159.69 to shift focus to 160.26-98 where Dec highs are noted.

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