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Comerica (CMA) Pulls Back after a Bullish Breakout

Comerica $CMA recently broke above a key consolidation resistance around 75, and pushed to new highs on the year as well as an all-time high as it tagged 80. Immediately after tagging 80, CMA started retreating sharply. 

CMA Daily Chart

(click to enlarge)

- The daily chart shows a push from a low on the year of almost 64 in September to a high just above 80 before the pullback.
- I think we should monitor the 72 area for support. 
- Price should really not break below 70 if CMA is indeed in a bullish trend. 
Below 70:
- If price does break below 70, the recent bullish breakout will look like a false breakout, which opens up a potential period of significant bearish correction, perhaps back towards the 65 area, and even the 53.50 area. 

CMA Weekly Chart

(click to enlarge)