Bears take comfort in the lack of follow through following the spike above 21 & 55-DMAs Thursday. Layers of resistance remain $1213.8-1240.6 with bulls needing a close above $1213.8 to end bearish hopes and shift focus back to $1224.3-1240.6 where the 100-DMA is located. While $1213.8 caps bears remain focused on the $1179.5 61.8% Fibo with a close below needed to confirm focus on the 2014 low although the Bollinger band base may limit follow through.
RES 4: $1237.7 – 50% Fibonacci 1345.3-1130.0
RES 3: $1224.3 – High Dec 15
RES 2: $1213.8 – High Dec 18
RES 1: $1201.9 – 55-DMA
LPRICE: $1198.5
SUP 1: $1179.5 – 61.8% Fibonacci $1142.9-1138.6
SUP 2: $1168.6 – Bollinger band base
SUP 3: $1146.7 – Low Dec 1
SUP 4: $1130.0 – 2014 Low Nov 7
