The recovery from the 55-DMA continued Thursday with the sharp move higher closing marginally above the 21-DMA ($1318.4). The sharp bounce sees focus shift back to the $1333.7-1346.8 region with the possibility of volatile range trading within a broad $1294-1347 range increasing. A close above the recent $1345.3 July 10 high is needed to confirm a return in focus to the 2014 high. A close below $1308.1 is needed to ease renewed bullish pressure
RES 4: $1346.8 – Bollinger band top
RES 3: $1345.3 – High July 10
RES 2: $1333.7 – Low July 11 now resistance
RES 1: $1324.8 – High July 17
LPRICE: $1315.4
SUP 1: $1315.0 – Hourly support July 17
SUP 2: $1308.1 – Hourly resistance July 17 now support
SUP 3: $1293.6 – 55-DMA
SUP 4: $1285.9 – 200-DMA