After repeatedly bouncing from support noted just below the 21-DMA Stoxx50 is again testing the layers of resistance including key DMAs, the Bollinger band top and Ichimoku cloud in the 3127.9-3169.9 region. Bulls continue to look for a close above 3169.9 to reconfirm bullish pressure and target 2014 highs. Bears need a close below 3026.4 to end bullish hopes and shift focus to tests of 2014 lows.
RES 4: 3169.9 High Oct 6
RES 3: 3152.4 200-DMA
RES 2: 3132.8 Bollinger band top
RES 1: 3127.9 100-DMA
PREVIOUS CLOSE: 3120.2
SUP 1: 3085.2 Low Nov 18
SUP 2: 3026.4 Low Nov 13
SUP 3: 2965.6 Low Oct 30
SUP 4: 2906.0 Low Oct 21