As Stoxx50 distances itself further from the 3255.3 initial resistance level, focus is shifting to the layers of support in the 3123.6-3195.3 region where key DMAs are located. A close below the 21-DMA hints at further downside, with a close below the 200-DMA seeing focus return to 2014 lows. Bulls need to see a close above 3253.4 to regain control and see 3289.8 initially targeted.
RES 4: 3325.5 2014 High June 19
RES 3: 3302.9 High June 23
RES 2: 3289.8 Monthly high July 3
RES 1: 3255.3 Previous daily support now resistance
PREVIOUS CLOSE: 3221.5
SUP 1: 3195.3 21-DMA
SUP 2: 3160.8 55-DMA
SUP 3: 3144.6 200-DMA
SUP 4: 3123.6 Low Aug 25