The recovery from the recent dip to 2014 lows dominated for the majority of last week with Stoxx50 now hesitating ahead of the 21-DMA. Bulls need a close above the 21-DMA to hint at a shift in focus to the 2014 highs with a close above the 3169.9 level needed to confirm. Initial support remains at Wednesday’s 2971.9 low with bears needing a close below to regain control and shift overall focus back to the 2789.6-2872.5 region.
RES 4: 3130.8 55-DMA
RES 3: 3105.7 61.8% Fibonacci 3301.1-2789.6
RES 2: 3090.4 High Oct 9
RES 1: 3052.7 21-DMA
PREVIOUS CLOSE: 3030.2
SUP 1: 2971.9 Low Oct 22
SUP 2: 2906.0 Low Oct 21
SUP 3: 2872.5 Low Oct 17
SUP 4: 2789.6 2014 Low Oct 16