Stoxx50 took its first backward step since breaking the topside of the daily triangle back on Jan 15 but managed to remain above the 3332.5 support. The 3332.5 support remains key with bears needing a close below to ease bullish pressure whereas below 3261.8 remains needed to shift focus to layers of support in the 3138.4-3177.0 region where key DMAs are located. While 3332.5 supports, bulls remain focused on the 3456.8-3612.3 region.
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: 3417.5 2015 High Jan 23
PREVIOUS CLOSE: 3372.5
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
