Following on from Tuesday’s dip back to the 21-DMA the recovery has resulted in fresh 2015 highs as bulls remain firmly focused on the daily trend line extension and then the weekly trend line extension above. The Bollinger band top capped Wednesday’s rally and is likely to limit follow through. Bears now look for a close below 3411.8 to ease bullish pressure and below the 21-DMA to shift immediate focus to 3321.6.
RES 4: 3564.9 Rising weekly trend line extension
RES 3: 3482.9 Rising daily trend line extension
RES 2: 3476.7 Bollinger band top
RES 1: 3473.3 2015 High Feb 13
PREVIOUS CLOSE: 3465.7
SUP 1: 3411.8 Hourly support Feb 17
SUP 2: 3388.5 21-DMA
SUP 3: 3321.6 Low Feb 9
SUP 4: 3261.8 Low Jan 22
