Losses continued to end the week for Stoxx50 with the index falling just short of the Mar & Aug monthly lows and bears taking comfort in yet another relatively bearish close. Bulls now need a close above Friday’s high to ease bearish pressure a little whereas a close above 3090.4 is needed to shift focus back to key DMAs clustered 3152.6-3191.0. Bears remain focused on a break lower and 2014 lows
RES 4: 3128.9 High Oct 7
RES 3: 3106.4 Previous daily support now resistance
RES 2: 3090.4 High Oct 9
RES 1: 3034.9 High Oct 10
PREVIOUS CLOSE: 2991.3
SUP 1: 2977.5 Monthly Low Aug 8
SUP 2: 2971.5 Monthly Low Mar 14
SUP 3: 2944.1 2014 Low Feb 4
SUP 4: 2926.4 100-WMA