Stoxx50 recovered from a pullback Wednesday to maintain the sequence of higher daily highs with immediate focus on the 3278.6 Dec monthly high and overall focus on the 3325.5 2014 high. 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.
RES 4: 3325.5 2014 High June 19
RES 3: 3301.1 Monthly High Sept 19
RES 2: 3286.3 Bollinger band top
RES 1: 3278.6 Monthly High Dec 5
PREVIOUS CLOSE: 3269.5
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
