The recovery from last week’s lows set on the Monday resulted in a sequence of higher daily lows that reconfirmed the bullish bias with fresh 2015 highs on Friday. Bulls remain firmly focused on the rising daily trend line extension and then the rising weekly trend line extension above that. Initial support is noted at Friday’s low with bears needing a close below to ease bullish pressure and hint at a dip back to the 3321.6-3356.6 region.
RES 4: 3564.9 Rising weekly trend line extension
RES 3: 3489.3 Bollinger band top
RES 2: 3471.4 Rising daily trend line extension
RES 1: 3463.3 2015 High Feb 13
PREVIOUS CLOSE: 3447.5
SUP 1: 3428.9 Low Feb 13
SUP 2: 3356.6 21-DMA
SUP 3: 3321.6 Low Feb 9
SUP 4: 3261.8 Low Jan 22
