Volatile sideways trading continued for Stoxx50 with it dipping back towards 3190.7. The significance of 3190.7 has been confirmed with the sell-offs the past 3 days being supported ahead of this level. Bears need a close below 3190.7 to confirm an easing of bullish pressure with a close below the 200-DMA then needed to shift focus back to the 2971.5-2977.5 region. Bulls need a close above 3259.2 to reconfirm bullish pressure and target 2014 highs.
RES 4: 3357.4 Weekly Bollinger band top
RES 3: 3325.5 2014 High June 19
RES 2: 3302.9 High June 23
RES 1: 3259.2 High Sept 25
PREVIOUS CLOSE: 3202.1
SUP 1: 3190.7 Low Sept 3
SUP 2: 3162.8 55-DMA
SUP 3: 3154.9 200-DMA
SUP 4: 3123.6 Low Aug 25