Last week’s rallies failed ahead of $1300 following spikes above both the 21-DMA ($1294.8) & 100-DMA ($1294.4). Layers of resistance are noted $1289.9-1306.4 with bulls needing a close above the falling daily channel top to confirm an an end to bearish hopes and shift immediate focus to $1319.3-1324.7 where Aug monthly highs are located. While $1289.9-1306.4 caps bears target a break of Aug monthly lows with focus shifting to the June low.
RES 4: $1304.7 – 55-DMA
RES 3: $1298.2 – High Aug 20
RES 2: $1294.4 – 100-DMA
RES 1: $1289.9 – High Sept 1
LPRICE: $1281.5
SUP 1: $1280.0 – Low Aug 27
SUP 2: $1271.6 – Monthly Low Aug 21
SUP 3: $1268.9 – Bollinger band base
SUP 4: $1258.6 – Low June 11