Stoxx50 made minor fresh 5 month lows Tuesday as it consolidated at the lower end the last week’s range while the Bollinger band base caught up a little. Bulls continue to look for a close above the 200-DMA to confirm an easing of bearish pressure and above the 55-DMA to end bearish hopes and target 2014 highs. Bears remain firmly focused on the rising daily trend line with a close below adding weight to the overall case for a test of Mar monthly lows.
RES 4: 3194.4 100-DMA
RES 3: 3163.7 Previous daily low now resistance
RES 2: 3129.5 200-DMA
RES 1: 3105.4 Hourly resistance Aug 1
PREVIOUS CLOSE: 3072.0
SUP 1: 3061.3 Low Aug 4
SUP 2: 3036.8 Rising daily trend line Sept 13/Dec 13/Feb14
SUP 3: 3001.7 Low Mar 17
SUP 4: 2971.5 Monthly Low Mar 14