The break of the triangle top continues to result in fresh 2015 and 6+ year highs for Stoxx50 with the index having traded at the highest level since August 2008. Bullish focus remains firmly on 3456.8-3612.3 with the weekly trend line extension noted at 3544.4. Bears now need a close below 3332.5 to ease bullish pressure and below 3261.8 to shift focus back to layers of support in the 3120.6-3177.0 region where key DMAs are located.
RES 4: 3612.3 Weekly High June 2008
RES 3: 3544.4 Weekly trend line extension
RES 2: 3456.8 Monthly High Aug 2008
RES 1: 3412.8 2015 High Jan 23
PREVIOUS CLOSE: 3382.5
SUP 1: 3332.5 High Jan 22 now support
SUP 2: 3261.8 Low Jan 22
SUP 3: 3198.4 Low Jan 19
SUP 4: 3177.0 High Jan 2 now support
