The break higher Friday hints at a shift in focus to a bullish bias but the failure to close above the 21-DMA remains a concern for bulls. Bulls need a close above $1196.2 to confirm a break of the 21-DMA, ending bearish hopes and shifting overall focus to the $1253.7-1258.5 region. While $1196.2 caps, bears hold out hope for another move lower but need a close below $1179.2 to shift focus back to 2014 lows.
RES 4: $1214.0 – 55-DMA
RES 3: $1207.9 – Hourly resistance Oct 30
RES 2: $1196.2 – Hourly support Oct 31 now resistance
RES 1: $1188.9 – 21-DMA
LPRICE: $1186.7
SUP 1: $1179.2 – Alternating daily support/resistance
SUP 2: $1146.1 – Low Nov 11
SUP 3: $1130.0 – 2014 Low Nov 7
SUP 4: $1124.2 – Low Apr 19 2010