Recent hesitation ahead of the 2998.5 level resulted in an aggressive bounce that has eased bearish pressure and sees immediate focus return to the now key 3155.7-3177.0 resistance region. Bulls now need a close above 3177.0 to confirm a break of the falling trend line off Dec highs, ending bearish hopes and targeting 3278.6-3302.9. Bears now need a close below 3085 to regain the upper hand.
RES 4: 3229.2 High Dec 9
RES 3: 3199.2 High Dec 10
RES 2: 3177.0 High Jan 2
RES 1: 3155.7 Falling daily trend line
PREVIOUS CLOSE: 3135.0
SUP 1: 3080.5 Alternating daily support/resistance
SUP 2: 2998.5 Low Jan 6
SUP 3: 2921.7 Monthly Low Dec 16
SUP 4: 2906.0 Low Oct 21
