Recent support ahead of the 200-DMA gave way Friday with the relatively bearish close seeing immediate focus having shifted to the $1215.4-1224.3 region where 55 & 100-DMAs are located. Bulls now need a close above $1255.0 to confirm a break back above the 200-DMA and an easing of the renewed bearish pressure. Bears look for a close below the 100-DMA to confirm a return in focus to the 2014 & 2015 lows.
RES 4: $1299.7 – High Jan 26
RES 3: $1286.6 – High Jan 29
RES 2: $1274.3 – High Feb 4
RES 1: $1255.0 – Alternating daily support/resistance
LPRICE: $1237.0
SUP 1: $1225.1 – 55-DMA
SUP 2: $1221.2 – 61.8% Fibonacci $1167.6-1307.9
SUP 3: $1215.7 – 100-DMA
SUP 4: $1201.8 – Low Jan 6
