Stoxx50 managed an inside day Wednesday after having found some support ahead of Tuesday’s low. Layers of resistance remain with bulls needing a close above 3080.5 to ease bearish pressure and above 3177.0 to shift focus back to 3278.6-3302.0 where the 2014 high is located. Daily studies have room to move but the Bollinger band base remains the key concern for bears.
RES 4: 3199.2 High Dec 10
RES 3: 3177.0 High Jan 2
RES 2: 3110.1 Hourly resistance Jan 5
RES 1: 3080.5 Low Dec 18 now resistance
PREVIOUS CLOSE: 3026.7
SUP 1: 2998.5 Low Jan 6
SUP 2: 2979.7 Bollinger band base
SUP 3: 2921.7 Monthly Low Dec 16
SUP 4: 2906.0 Low Oct 21
