The move lower continued Thursday with Stoxx50 bouncing a little from just ahead of the 3083.4-3129.1 region where the 200-DMA and 61.8% Fibonacci retracement are located. The main concern for bears is the close well below the Bollinger band base (3175.8) which is usually unsustainable and leads to consolidation while the Bolli catches up. Bulls now need to see a close above the 100-DMA to ease the bearish pressure.
RES 4: 3239.8 High July 8
RES 3: 3229.3 55-DMA
RES 2: 3211.5 Monthly low June 30 now resistance
RES 1: 3184.8 100-DMA
PREVIOUS CLOSE: 3150.5
SUP 1: 3129.1 Monthly Low May 7
SUP 2: 3114.9 200-DMA
SUP 3: 3106.7 61.8% Fibonacci 2971.5-3325.5
SUP 4: 3083.4 Monthly Low Apr 14