Bulls take comfort in the bounce and relatively bullish close Friday that has eased the bearish pressure which dominated the past month and saw dramatic moves lower last week. Focus now shifts to the 3034.9 level with a close above seeing bulls targeting the 3108.9-3176.1 region where 21, 55, 100 & 200-DMAs are located. Bears now need a close below Friday’s 2872.5 low to see bearish dominance resume.
RES 4: 3106.4 Previous daily support now resistance
RES 3: 3090.4 High Oct 9
RES 2: 3034.9 High Oct 10
RES 1: 2947.5 Low Oct 14 now resistance
PREVIOUS CLOSE: 2962.0
SUP 1: 2903.8 Hourly support Oct 17
SUP 2: 2872.5 Low Oct 17
SUP 3: 2789.6 2014 Low Oct 16
SUP 4: 2748.6 Low Sept 5 2013