Bulls took comfort in the spike above the $1292.4 previous resistance and the 21 & 100-DMAs Thursday, with daily studies looking to correct from O/S levels and pressure having been eased on the $1271.6 support. In saying that, the rallies have lacked follow through with bulls needing a close above the 55-DMA to confirm a break of $1303.9, ending bearish hopes and shifting immediate focus to the $1319.3-$1324.7 region.
RES 4: $1319.3 – High Aug 14
RES 3: $1307.4 – Falling daily channel top July/Aug
RES 2: $1304.5 – 55-DMA
RES 1: $1298.2 – High Aug 20
LPRICE: $1286.6
SUP 1: $1283.3 – Low Aug 29
SUP 2: $1280.0 – Low Aug 27
SUP 3: $1271.6 – Monthly Low Aug 21
SUP 4: $1269.8 – Bollinger band base