The Stoxxt50 found support ahead of the 2971.9 level on Monday before confirming its significance as support and bounce back to the 21-DMA Tuesday. Flirtation with 21-DMA continues but bulls look for a close above 3062.0 to confirm a break of the 21-DMA and shift immediate focus to key DMAs clustered 3130.1-3157.4. Bears need a close below 2971.9 to ease bullish pressure and target 2014 lows
RES 4: 3129.9 55-DMA
RES 3: 3105.7 61.8% Fibonacci 3301.1-2789.6
RES 2: 3090.4 High Oct 9
RES 1: 3062.0 High Oct 27
PREVIOUS CLOSE: 3036.0
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