Whippy trading has seen Stoxx50 bounce and trade marginally above the triangle top before closing below on Tuesday. Bulls continue to look for a close above 3177.0 to confirm a topside break, ending bearish hopes and shifting focus to the 3278.6-3302.9 region where the 2014 high is located. Bears now look for a close below 3097.8 to relieve topside pressure and below 2998.5 to confirm a break of the triangle base.
RES 4: 3229.2 High Dec 9
RES 3: 3199.2 High Dec 10
RES 2: 3177.0 High Jan 2
RES 1: 3158.6 200-DMA
PREVIOUS CLOSE: 3133.7
SUP 1: 3097.8 Alternating hourly support/resistance
SUP 2: 3024.4 Triangle base
SUP 3: 2998.5 Low Jan 6
SUP 4: 2921.7 Monthly Low Dec 16
