Bears remain firmly focused on the 2944.1-2971.5 region with the 2014 low at 2944.1 and Thursday’s close below the rising daily trend line off Oct13/Dec13/Feb14 lows adding weight to their case. The only concerns for bears are very O/S studies and a close well below the daily and weekly Bollinger band bases. In saying that, bulls need a close above 3062.2 to ease bearish pressure and above the 200-DMA to hint at a bigger bounce.
RES 4: 3129.3 200-DMA
RES 3: 3105.4 Hourly resistance Aug 1
RES 2: 3095.1 High Aug 5
RES 1: 3062.2 High Aug 6
PREVIOUS CLOSE: 3012.7
SUP 1: 3001.7 Low Mar 17
SUP 2: 2971.5 Monthly Low Mar 14
SUP 3: 2944.1 2014 Low Feb 4
SUP 4: 2916.7 Monthly Low Dec 13 2013