Recent pressure on the $1219.9 resistance last week has resulted in a pop higher today but layers of resistance $1223.2-1251.6 are likely to prove tough going. Overall bulls need a close above $1251.6 to confirm a break of the 200-DMA shifting overall focus back to the 2015 high. Overall while the 55-DMA caps a slight bearish bias remains but bears need a close below $1190.6 to reconfirm overall focus on 2014 & 2015 lows.
RES 4: $1245.6 – 200-DMA
RES 3: $1236.9 – High Feb 16
RES 2: $1228.4 – 55-DMA
RES 1: $1225.0 – Hourly resistance Feb 17
PRICE: $1220.2
SUP 1: $1201.1 – Hourly support Feb 25
SUP 2: $1190.6 – Low Feb 24
SUP 3: $1182.5 – Bollinger band base
SUP 4: $1167.0 – Low Jan 2
