The aggressive bounce from ahead of 2014 lows has resulted in the first close above the 55-DMA ($1203.9) since mid-Aug with focus now having shifted to the $1240.5-1258.2 region. Layers of support have developed on the hourlies as a result of the move with bears now needing a close below $1202.9 to ease bearish pressure and back below $1192.3 to shift focus back to the $1124.2-1142.9 region where 2014 lows are located
RES 4: $1241.0 – 100-DMA
RES 3: $1222.5 – Low Oct 28 now resistance
RES 2: $1213.6 – Hourly resistance Dec 2
RES 1: $1210.5 – Hourly support Dec 2 now resistance
LPRICE: $1205.5
SUP 1: $1202.9 – Hourly support Dec 1
SUP 2: $1192.3 – Hourly support Dec 1
SUP 3: $1185.1 – Hourly resistance Dec 1 now support
SUP 4: $1169.1 – Hourly support Dec 1
