Following the failure to confirm an easing of bearish pressure Thursday, Stoxx50 reconfirmed bearish focus Friday with a failure ahead of the 3095.1 resistance combined with a relatively bearish close. With the 21-DMA at 3106.2 bulls now need a close above to confirm an easing of bearish pressure whereas a close above the 200-DMA is needed to hint at a bigger bounce. Bears initially target the 2969.2-2971.5 region to start the new week
RES 4: 3128.4 200-DMA
RES 3: 3106.2 21-DMA
RES 2: 3105.4 Hourly resistance Aug 1
RES 1: 3095.1 High Aug 5
PREVIOUS CLOSE: 3033.3
SUP 1: 3017.6 Low Aug 12
SUP 2: 2971.5 Monthly Low Mar 14
SUP 3: 2969.2 Bollinger band base
SUP 4: 2944.1 2014 Low Feb 4