The lack of follow through on Friday’s spike above the 61.8% Fibo and failure ahead of the July 17 high are concerns for bulls but bears continue to look for a close back below $1302.0 to confirm a break of the 21-DMA and ease bullish pressure. Overall bears continue to look for a close below $1280.1 to confirm a break of the trend line, ending bullish hopes and seeing immediate focus shift to the $1240.5 June low.
RES 4: $1345.3 – Monthly high July 10
RES 3: $1333.7 – Low July 11 now resistance
RES 2: $1324.8 – High July 17
RES 1: $1322.8 – High Aug 8
LPRICE: $1306.5
SUP 1: $1302.0 – Low Aug 7
SUP 2: $1296.1 – 100-DMA
SUP 3: $1288.1 – Rising daily trend line June/Aug lows
SUP 4: $1280.1 – Low Aug 1