Stoxx50 recovered from the dip below the previous initial support at 3386.6 for a relatively bullish close that sees bulls remaining focused on the rising daily trend line extension. Bears now need a close below Thursday’s 3376.8 low to confirm an easing of bullish pressure. Overall a close below the key 3326.4 support is needed to hint at a deeper correction that initially targets the 3261.8-3274.5 region where the 21-DMA is located.
RES 4: 3520.7 Bollinger band top
RES 3: 3456.8 Monthly High Aug 2008
RES 2: 3448.3 Daily trend line extension
RES 1: 3426.7 2015 High Feb 3
PREVIOUS CLOSE: 3409.1
SUP 1: 3376.8 Low Feb 5
SUP 2: 3326.4 Low Jan 29
SUP 3: 3274.5 21-DMA
SUP 4: 3261.8 Low Jan 22
