An inside day Monday and hesitation ahead of the key 55-DMA combined with daily studies approaching O/B levels are all key concerns for bulls. Bulls need to see a close above the 55-DMA to reconfirm bullish pressure and shift overall focus to the $1240.6-1258.5 region. Bears continue to look for a close below $1186.9 to confirm an easing of bullish pressure and below $1175.0 to shift focus back to 2014 lows.
RES 4: $1240.6 – Low Oct 22 now resistance
RES 3: $1224.7 – Bollinger band top
RES 2: $1222.4 – Low Oct 28 now resistance
RES 1: $1208.1 – 55-DMA
LPRICE: $1198.0
SUP 1: $1186.9 – Low Nov 21
SUP 2: $1175.0 – Low Nov 19
SUP 3: $1146.1 – Low Nov 11
SUP 4: $1130.0 – 2014 Low Nov 7
