The $1242.7 level confirmed its significance as initial resistance Tuesday with bulls continuing to look for a close above this level to confirm an easing of bearish pressure. A close above $1258.6 is then needed to hint at a bigger bounce with above the 21-DMA ($1264.2) confirming and shifting focus to layers of resistance $1286.1-1303.7. Key concerns for bears are seen coming from O/S studies and Bollinger band bases.
RES 4: $1264.4 – Previous hourly support now resistance
RES 3: $1258.6 – High Sept 9
RES 2: $1250.9 – High Sept 11
RES 1: $1242.7 – Hourly resistance Sept 11
LPRICE: $1236.7
SUP 1: $1225.6 – Low Sept 12
SUP 2: $1218.5 – Low Jan 8
SUP 3: $1201.9 – 2014 Low Jan 1
SUP 4: $1182.4 – Monthly Low Dec 31 2013