The bounce from the 21-DMA continued Thursday with the close above the previous 3255.3 resistance level confirming bullish pressure and seeing bulls targeting the 2014 highs. Initial support is now noted at Thursday’s low with bears needing a close below to ease renewed bullish pressure. Overall a close below 3190.7 is needed to confirm breaks of the 21 & 100-DMAs and hint at a deeper correction.
RES 4: 3325.5 2014 High June 19
RES 3: 3307.6 Bollinger band top
RES 2: 3302.9 High June 23
RES 1: 3289.8 Monthly high July 3
PREVIOUS CLOSE: 3271.2
SUP 1: 3237.0 Low Sept 18
SUP 2: 3211.3 21-DMA
SUP 3: 3190.7 Low Sept 3
SUP 4: 3160.5 55-DMA