The $1242.7 level confirmed significance as initial resistance with bulls continuing to look for a close above to confirm an easing of bearish pressure. Failure at this level has resulted in a resumption of the move lower with fresh 8 month lows. Immediate focus remains on the $1180.2-1201.9 region where 2013 and 2014 lows are located with a close above $1242.7 needed to ease bearish pressure
RES 4: $1260.2 – 21-DMA
RES 3: $1258.6 – High Sept 9
RES 2: $1242.7 – Hourly resistance Sept 11
RES 1: $1225.6 – Low Sept 15 now resistance
LPRICE: $1223.5
SUP 1: $1216.1 – Hourly support Sept 18
SUP 2: $1201.9 – 2014 Low Jan 1
SUP 3: $1182.4 – Monthly Low Dec 31 2013
SUP 4: $1180.2 – 2013 Low June 28 2013