Bears are taking comfort in the pullback from recent failures ahead of the Bollinger band top with key resistance levels noted above. The 21-DMA remains key support with bears needing a close below to end bullish hopes and shift immediate focus back to the $1202.9 support and overall focus back to the key $1180.2-1182.4 region where the recent rally commenced. Bulls need a close above $1242.7-1245.1 region to reconfirm dominance.
RES 4: $1258.5 – High Sept 9
RES 3: $1245.1 – 38.2% Fibo $1345.3-1183.1
RES 2: $1242.7 – Hourly resistance Sept 11
RES 1: $1238.2 – Bollinger band top
LPRICE: $1226.0
SUP 1: $1218.0 – 21-DMA
SUP 2: $1202.9 – Low Oct 7
SUP 3: $1182.4 – Monthly Low Dec 31 2013
SUP 4: $1180.2 – 2013 Low June 28 2013