The significance of the 3178.6-3184.5 support region was confirmed Wednesday with Stoxx50 consolidating at the lower end of Tuesdays range but above initial support. Bears favour a break of the 3178.6-3183.7 region that then targets the 3083.4-3129.1 region. Bulls continue to look for a close above 3239.8 to ease the bearish pressure and above the 21-DMA to target 2014 highs.
RES 4: 3289.8 High July 3
RES 3: 3261.3 21-DMA
RES 2: 3239.8 High July 8
RES 1: 3220.4 Hourly resistance July 8
PREVIOUS CLOSE: 3203.0
SUP 1: 3184.5 100-DMA
SUP 2: 3178.6 Low May 23
SUP 3: 3148.5 38.2% Fibonacci 2971.5-3325.5
SUP 4: 3129.1 Monthly Low May 7