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The support and the resistance are identified respectively as the 200 percent and the 176.4 Fibonacci projection levels of a downward wave c that developed from the Nov. 21 high of $81.61.
A break above $61.89 may trigger a further gain to $63.52, the 161.8 percent projection level, while a drop below $60.28 will confirm the extension of the downtrend towards $59.25, the 200 percent projection level.
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