Monday’s close above the 200-DMA was followed up with a break and close above the 55 & 100-DMAs with the bullish case receiving a further boost from another bullish close. Immediate focus shifts to 3223.9-3228.8 with a close above seeing 2014 highs targeted. Bears need a close below 3123.6 to confirm a break of the 200-DMA and ease bullish pressure and below the 21-DMA to end bullish hopes.
RES 4: 3289.8 Monthly High July 3
RES 3: 3228.8 Ichimoku cloud top
RES 2: 3223.9 High July 24
RES 1: 3207.4 Ichimoku cloud base
PREVIOUS CLOSE: 3197.3
SUP 1: 3151.8 Low Aug 26
SUP 2: 3123.6 Low Aug 25
SUP 3: 3100.1 Rising short term daily channel base
SUP 4: 3086.4 21-DMA