Closes above the Bollinger band top indicate the strength of the current bullish bias as bulls remains focused on the rising weekly trend line extension. Initial support remains at last week’s high (3495.3) with bears continuing to look for a close below to ease bullish pressure and shift focus back to the key 3381.3-3444.0 region where the 21-DMA is located. Key concerns for bulls come from Bollinger band tops.
RES 4: 3790.5 High May 30 2008
RES 3: 3583.6 High June 17 2008
RES 2: 3571.7 Rising weekly trend line extension
RES 1: 3555.3 2015 High Feb 24
PREVIOUS CLOSE: 3547.0
SUP 1: 3495.3 High Feb 19 now support
SUP 2: 3439.2 Low Feb 19
SUP 3: 3419.8 21-DMA
SUP 4: 3381.3 Low Feb 17
