Recent hesitation ahead of the key 55-DMA combined with daily studies at O/B levels have resulted in a move lower with Friday’s close below the $1175.0 level ending bullish hopes and shifting initial focus to 2014 lows. Bulls now need a close above $1175.0 to ease bearish pressure and above shift focus back to the key $1203.0-1207.7 region with the 55-DMA noted at $1205.2.
RES 4: $1203.0 – High Nov 25
RES 3: $1192.3 – Hourly resistance Nov 28
RES 2: $1175.0 – Low Nov 19 now resistance
RES 1: $1165.2 – Low Nov 28 now resistance
LPRICE: $1151.7
SUP 1: $1142.9 – Hourly support Dec
SUP 2: $1138.9 – Bollinger band base
SUP 3: $1130.0 – 2014 Low Nov 7
SUP 4: $1124.2 – Low Apr 19 2010
