The 3243.0 initial support remains key for bears this week with a close below needed to ease the bullish pressure that has developed with the bounce from last Monday’s low. Layers of support remain in the 3178.6-3228.4 region with bears then needing a close below 3178.6 to end bullish hopes and initially target the 200-DMA. While 3243.0 supports bulls retain the upper hand and target the 3325.5-3343.6 region.
RES 4: 3343.6 Trend line projection
RES 3: 3327.3 Weekly Bollinger band top
RES 2: 3325.5 2014 High June 19, Bollinger band top
RES 1: 3302.9 High June 23
PREVIOUS CLOSE: 3270.4
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: 3181.9 100-DMA