The $1242.7 level confirmed its significance as initial resistance Tuesday with bulls continuing to look for a close above this level to confirm an easing of bearish pressure. Overall a close above $1258.6 is needed to hint at a bigger bounce. The failure at $1242.7 has seen fresh 8 month lows recently as immediate focus remains on the $1180.2-1201.9 region where 2013 and 2014 lows are located
RES 4: $1258.6 – High Sept 9
RES 3: $1257.6 – 21-DMA
RES 2: $1242.7 – Hourly resistance Sept 11
RES 1: $1231.3 – Low Sept 16 now resistance
LPRICE: $1222.0
SUP 1: $1215.8 – Low 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