Failure to carry on with topside gains resulted in a correction lower Monday and the 21-DMA seen as key support this week. Monday’s sell-off eased bullish pressure but a close below the 21-DMA remains needed to end bullish hopes and to shift focus to key DMAs in the 3150.7- 3209.6 region. Bulls remain focused on the 3426.7-3452.1 region where 2015 highs and the trend line extension are located.
RES 4: 3530.3 Bollinger band top
RES 3: 3456.8 Monthly High Aug 2008
RES 2: 3456.0 Daily trend line extension
RES 1: 3426.7 2015 High Feb 3
PREVIOUS CLOSE: 3347.7
SUP 1: 3321.6 Low Feb 9
SUP 2: 3301.5 21-DMA
SUP 3: 3261.8 Low Jan 22
SUP 4: 3209.6 55-DMA
