Stochastics and the RSI are oversold but remain neutral to 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 82.14 are needed to confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 81.78.
Second resistance is the 20-day moving average crossing at 82.14.
First support is last Thursday's low crossing at 81.22.
Second support is the 62% retracement level of the April-July rally crossing at 81.02.
