Recent hesitation ahead of the key 55-DMA combined with daily studies at O/B levels have resulted in a move lower that eases the previous bullish pressure and shifts immediate focus back to the $1175.0-1176.5 region where the 21-DMA is located. Bears now look for a close below $1175.0 to confirm a break of the 21-DMA, ending bullish hopes and shifting focus back to 2014 lows. Bulls now need a close above $1207.9 to confirm a break of the 55-DMA.
RES 4: $1207.9 – High Nov 21
RES 3: $1206.3 – 55-DMA
RES 2: $1203.0 – High Nov 25
RES 1: $1192.3 – Hourly resistance Nov 28
LPRICE: $1185.3
SUP 1: $1175.0 – Low Nov 19
SUP 2: $1146.1 – Low Nov 11
SUP 3: $1139.7 – Bollinger band base
SUP 4: $1130.0 – 2014 Low Nov 7
