Continued hesitation ahead of the key 55-DMA combined with daily studies approaching O/B levels remain 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 where the 100-DMA is located. Bears now look for a close below $1190.4 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: $1222.4 – Low Oct 28 now resistance
RES 2: $1219.5 – Bollinger band top
RES 1: $1207.7 – 55-DMA
LPRICE: $1198.5
SUP 1: $1190.4 – Low Nov 25
SUP 2: $1175.0 – Low Nov 19
SUP 3: $1146.1 – Low Nov 11
SUP 4: $1130.0 – 2014 Low Nov 7
