In November, we noted that Chubb Limited $CB was reacting to a key resistance just under $135, with a bearish outlook to $120. Chubb Limited (CB) - Bears in Control $120 and $117 in SightCB Daily Chart(click to enlarge)Retesting Resistance Area:- First of all the previously anticipated dip to $120 materialized by late December. - Then, price rebounded from this support pivot. - It recently came up to $134, around the previous resistance area, and the rally indeed stalled.- Besides the sideways support/resistance pivot area, this area is also reinforced by a falling trendline.- The RSI was also right around 60, and a bearish market will likely keep the RSI under 60. Downside:- To me, if price closes below $128, CB is likely on a bearish swing towards $117-$120 again. - Even a close below $130 would be indicative of bears gaining control again. Upside:- But let's say price holds above $130 and climbs above $135. - I think this would only happen if we also see the current market recovery extend.- In this scenario, I would not be surprised if FB pushes up to the $140 area.