The dip below 3150.6 gave bears hope to end the week but the bounce from ahead of the key 3122.0-3129.1 support region combined with a relatively bullish close and O/S daily studies is of some concern to bears. Bulls need to see a close above 3211.5 to ease bearish pressure whereas a close above the falling daily trend line (3243.9) is needed to confirm a break of layers of resistance and shift overall focus back to 2014 highs.
RES 4: 3339.8 High July 8
RES 3: 3227.9 55-DMA
RES 2: 3222.5 21-DMA
RES 1: 3211.5 Monthly low June 30 now resistance
PREVIOUS CLOSE: 3164.1
SUP 1: 3129.1 Monthly Low May 7
SUP 2: 3122.0 200-DMA
SUP 3: 3106.7 61.8% Fibonacci 2971.5-3325.5
SUP 4: 3083.4 Monthly Low Apr 14