The sequence of higher daily highs/lows continued Wednesday with the pair’s gains moderated by the proximity of the Bollinger band top (3196.5) and the Ichimoku cloud base (3198.4). Initial support is now noted at the 55-DMA but bears look for a close below 3151.8 to ease bullish pressure and below 3123.6 to confirm a break of the 200-DMA and shift overall focus back to 2971.5-2980.0
RES 4: 3289.8 Monthly High July 3
RES 3: 3228.2 Ichimoku cloud top
RES 2: 3223.9 High July 24
RES 1: 3210.7 High July 30
PREVIOUS CLOSE: 3194.2
SUP 1: 3172.1 55-DMA
SUP 2: 3151.8 Low Aug 26
SUP 3: 3123.6 Low Aug 25
SUP 4: 3110.4 Rising short term daily channel base