Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, the 62% retracement level of the April-July rally crossing at 81.02 is the next downside target. Closes above the 20-day moving average crossing at 82.49 are needed to confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 82.27.
Second resistance is the 20-day moving average crossing at 82.49.
First support is today's low crossing at 81.22.
Second support is the 62% retracement level of the April-July rally crossing at 81.02.
