Shares of Chipotle (CMG) has been on a recovery so far in the new year. The last time we looked at CMG, it clearly broke out of a triangle consolidation pattern.Chipotle 4H Chart 1/20(click to enlarge)Pullback Adds Evidence of Upside:- Price extended to 420 before retreating. - Then, price came down to 400 and bounced back up sharply.- This ability to hold above 400 is evidence that bulls have taken over.- The 440-445 resistance area is in sight. Key Supports:- The 400 handle is now a key support. - But if it breaks, I think the bullish outlook is still valid as long as price holds above 385. - Also, the 4H RSI should hold above 40 if the market is truly turning bullish.