Higher daily highs and lows continue for Stoxx50 following the break of the triangle top as bulls target the 3278.6-3325.5 region where 2014 highs are located. Bears continue to look for a close below 3198.4 to ease bullish pressure whereas a close below 3120.6 is needed to confirm breaks of 21, 55, 100 & 200-DMAs, shifting immediate focus back to the 2998.5 Jan low so far. Daily studies remain supportive of further topside for now.
RES 4: 3325.5 2014 High June 19
RES 3: 3301.1 Monthly High Sept 19
RES 2: 3278.6 Monthly High Dec 5
RES 1: 3267.1 Bollinger band top
PREVIOUS CLOSE: 3244.7
SUP 1: 3198.4 Low Jan 19
SUP 2: 3177.0 High Jan 2 now support
SUP 3: 3120.6 Hourly support Jan 15
SUP 4: 3018.6 Low Jan 15
