Hesitation ahead of the key 3199.2 resistance level continues although bulls take some comfort in the bounce from the 100-DMA to start the new week. Bulls continue to look for a close above 3199.2 to confirm the bullish bias and shift focus to 3278.6-3302.9 where the 2014 high is located. Bears now look for a close below the 200-DMA to ease bullish pressure and below the 100-DMA to shift focus back to 3080.5
RES 4: 3302.9 2014 High Sept 19
RES 3: 3278.6 High Dec 5
RES 2: 3229.2 High Dec 9
RES 1: 3199.2 High Dec 10
PREVIOUS CLOSE: 3185.0
SUP 1: 3161.7 200-DMA
SUP 2: 3131.3 100-DMA
SUP 3: 3106.9 Hourly support Dec 19
SUP 4: 3080.5 Low Dec 18
