Following the recent break higher Stoxx50 managed an inside day Wednesday as it pauses ahead of the 3259.2-3302.9 region where the 2014 high is located. Bears need a close below 3193.4 to ease bullish pressure and a close below the 200-DMA to hint at a deeper correction with below the 21-DMA confirming. The key concerns for bulls come from the Bollinger band top and daily studies which are approaching O/B levels.
RES 4: 3309.2 Weekly Bollinger band top
RES 3: 3302.9 2014 High Sept 19
RES 2: 3259.2 High Sept 25
RES 1: 3256.3 Rising daily channel top
PREVIOUS CLOSE: 3226.0
SUP 1: 3193.4 Low Nov 24
SUP 2: 3169.9 Alternating daily support/resistance
SUP 3: 3154.5 200-DMA
SUP 4: 3124.5 100-DMA
