Stoxx50 has bounced from ahead of initial support 3024.2-3028.3 to once again pressure layers of resistance 3125.8-3169.9 which represent key DMAs and the Bollinger band top (3156.3). Bulls need a close above 3169.9 to add support to the bullish case for a move higher targeting the 2014 high. Bears need a close below the 21-DMA to end bullish hopes and see the 2014 low targeted.
RES 4: 3169.9 High Oct 6
RES 3: 3151.2 200-DMA
RES 2: 3136.2 100-DMA
RES 1: 3125.8 55-DMA
PREVIOUS CLOSE: 3104.5
SUP 1: 3028.3 Low Nov 4
SUP 2: 3024.2 21-DMA
SUP 3: 2965.6 Low Oct 30
SUP 4: 2906.0 Low Oct 21