The continuation lower to fresh 2014 and 13 month lows overnight sees the Stoxx50 close below the 100-WMA (2931.0) for the first time since Nov 2012 adding additional weight to the bearish case. Focus now shifts to the 200-WMA at 2620.4. O/S daily studies and Bollinger band bases are concerns for bears but bulls continue to look for a close above 3034.9 to confirm an easing of bearish pressure and to hint at a move back to the 3128.9-3182.6 region
RES 4: 3106.4 Previous daily support now resistance
RES 3: 3090.4 High Oct 9
RES 2: 3034.9 High Oct 10
RES 1: 2936.6 Hourly resistance Oct 15
PREVIOUS CLOSE: 2892.5
SUP 1: 2888.9 2014 Low Oct 15
SUP 2: 2877.9 Low Sept 30 2013
SUP 3: 2845.3 Low Sept 11 2013
SUP 4: 2816.1 Low Sept 10 2013