The recovery from the June monthly lows set earlier this week has resulted in a relatively bullish close above the 21-DMA, confirming an easing of bearish pressure with overall focus now having shifted to the 3325.5-3342.0 region. Daily studies are correcting from modestly O/S levels and add support to the bullish case. Bears now look for a close below the 3243.0 support to shift focus back to the key 3178.6-3211.5 region.
RES 4: 3342.0 Trend line projection
RES 3: 3330.7 Weekly Bollinger band top
RES 2: 3325.5 2014 High June 19, Bollinger band top
RES 1: 3302.9 High June 23
PREVIOUS CLOSE: 3289.7
SUP 1: 3243.0 Low July 2
SUP 2: 3211.5 Monthly Low June 30
SUP 3: 3190.3 38.2% Fibonacci 2971.5-3325.5
SUP 4: 3180.4 100-DMA