Last week’s rally saw the Stoxx50 manage a close above 55, 100 & 200-DMAs at one stage before struggling at the Ichimoku cloud base and Bollinger band top. The pullback has continued to find support above the 200-DMA with bears needing a close below 3123.6 to confirm an easing of bullish pressure. While 3123.6 supports bulls target a break of last week’s highs which would shift focus back to the 2014 high
RES 4: 3228.2 Ichimoku cloud top
RES 3: 3223.9 High July 24
RES 2: 3210.7 High July 30
RES 1: 3203.8 Bollinger band top
PREVIOUS CLOSE: 3172.4
SUP 1: 3133.0 200-DMA
SUP 2: 3123.6 Low Aug 25
SUP 3: 3089.1 21-DMA
SUP 4: 3056.6 Low Aug 20