Following solid gains Thursday Stoxx50 consolidated at the upper end of the weekly range to end last week as the Bollinger band (3286.4) played catch up. Bulls continue to target the 2014 highs with bears now needing a close below 3246.9 to ease bullish pressure and a close below the 100-DMA to hint at a deeper correction. Key concerns for bulls remain the Bollinger band top and O/B studies.
RES 4: 3342.5 Weekly Bollinger band top
RES 3: 3325.5 2014 High June 19
RES 2: 3302.9 High June 23
RES 1: 3289.8 Monthly high July 3
PREVIOUS CLOSE: 3275.0
SUP 1: 3258.6 Low Sept 5
SUP 2: 3246.9 Hourly support Sept 4
SUP 3: 3189.1 100-DMA
SUP 4: 3181.9 Rising daily channel base off Aug Low