After failing to capitalize on last week’s gains the sell-off for Stoxx50 accelerated Tuesday with the close below 3237.0 confirming an easing of bullish pressure and seeing immediate focus shift to the 3190.7 support. A close below this level hints at further downside with immediate focus shifting to the 55 & 200-DMAs. Bulls now need a close above 3237.0 to hint at a shift higher in focus.
RES 4: 3362.3 Weekly Bollinger band top
RES 3: 3325.5 2014 High June 19
RES 2: 3302.9 High June 23
RES 1: 3237.0 Low Sept 18
PREVIOUS CLOSE: 3205.7
SUP 1: 3190.7 Low Sept 3
SUP 2: 3160.7 55-DMA
SUP 3: 3152.2 200-DMA
SUP 4: 3123.6 Low Aug 25