Overall focus remains on the $1045.5 2010 low with pressure currently on the $1157.6 support. Key concerns for bears are seen coming from O/S daily studies and the Bollinger band bases which may limit follow through until they catch up a little. Bulls look for a close above $1177.7 to ease bearish pressure and above $1196.2 to shift immediate focus to the $1218.3-1222.4 region where the 21-DMA is located.
RES 4: $1222.4 – Low Oct 28 now resistance
RES 3: $1207.9 – Hourly resistance Oct 30
RES 2: $1196.2 – Hourly support Oct 31 now resistance
RES 1: $1177.7 – Hourly resistance Oct 31
LPRICE: $1163.2
SUP 1: $1157.6 – Monthly Low July 28 2010
SUP 2: $1124.2 – Low Apr 19 2010
SUP 3: $1085.3 – Monthly Low Mar 24 2010
SUP 4: $1045.5 – 2010 Low Feb 5 2010