The sell-off that dominated last week gained momentum with a sharp move lower Friday that saw closes below key DMA’s and the 38.2% Fibonacci. Bearish dominance now sees immediate focus shift to layers of support 2965.6-3034.1 with overall focus having shifted to the 2014 low (2789.6). Bulls need a close above 3130.2 to ease bearish pressure and above 3199.2 to shift focus back to 2014 highs
RES 4: 3199.2 High Dec 10
RES 3: 3181.9 21-DMA
RES 2: 3176.9 Hourly resistance Dec 12
RES 1: 3130.2 Hourly resistance Dec 12
PREVIOUS CLOSE: 3067.1
SUP 1: 3034.1 50.0% Fibonacci 2789.6-3278.6
SUP 2: 3026.4 Monthly low Nov 13
SUP 3: 2976.4 61.8% Fibonacci 2789.6-3278.6
SUP 4: 2965.6 Low Oct 30
