The period of choppy trading continues for Stoxx50 with it having bounced from ahead of Monday’s lows and the key DMAs to remain capped by the 21-DMA on the day. Bulls continue to look for a close above 3259.2 to put an end to the choppy trading and see overall focus shift to the 2014 highs at 3325.5. While the 21-DMA caps bears favour a break lower that needs to close below the 200-DMA to shift immediate focus to Aug monthly lows (2977.5).
RES 4: 3325.5 2014 High June 19
RES 3: 3302.9 High June 23
RES 2: 3259.2 High Sept 25
RES 1: 3236.2 21-DMA
PREVIOUS CLOSE: 3225.7
SUP 1: 3165.3 55-DMA
SUP 2: 3158.6 200-DMA
SUP 3: 3123.6 Low Aug 25
SUP 4: 3065.2 Low Aug 20