Friday’s sell-off provides bears with some breathing room but the pause at the 21-DMA ($1186.4) is a little concerning. Bears continue to look for a close below $1185.1 to confirm a break of the 21-DMA and shift focus back to the $1130.0-1142.8 region where the 2014 low is located. Bulls now look for a close above Friday’s $1207.6 high to reconfirm bullish pressure and shift immediate focus back to the $1213.6-1222.5 region.
RES 4: $1222.5 – Low Oct 28 now resistance
RES 3: $1213.6 – High Dec 3
RES 2: $1207.6 – High Dec 5
RES 1: $1196.2 – Hourly resistance Dec 5
LPRICE: $1193.2
SUP 1: $1185.1 – Hourly resistance Dec 1 now support
SUP 2: $1169.1 – Hourly support Dec 1
SUP 3: $1142.8 – Low Dec 1
SUP 4: $1130.0 – 2014 Low Nov 7
