Lack of follow through following fresh 2015 and 3 month highs combined with the proximity of the Bollinger band top ($1241.3) and O/B daily studies are concerns for bulls and hint at a top in place. Bears need a close below $1225.0 to confirm an easing of bullish pressure and to shift focus back to $1192.6-1201.7. While $1225.0 supports bulls remain focused on the $1253.0-1255.4 region with a close above the 200-DMA not seen since August.
RES 4: $1264.3 – 55-WMA
RES 3: $1255.4 – Monthly high Oct 21
RES 2: $1253.0 – 200-DMA
RES 1: $1244.4 – High Jan 14
LPRICE: $1231.5
SUP 1: $1225.0 – Low Jan 14
SUP 2: $1217.6 – Low Jan 12
SUP 3: $1201.7 – Low Jan 6
SUP 4: $1200.9 – 21-DMA
