Stoxx50 dipped marginally below the previous 3190.7 support before recovering some lost ground. The 3156.2-3188.4 support region becomes key this week with a close below 3188.4 needed to confirm bearish pressure and below the 200-DMA (3156.2) to shift overall focus back to the 200-DMA. In order to end the correction lower that dominated last week bulls need a close above $3259.2 to target 2014 highs
RES 4: 3325.5 2014 High June 19
RES 3: 3302.9 High June 23
RES 2: 3259.2 High Sept 25
RES 1: 3233.1 21-DMA
PREVIOUS CLOSE: 3219.5
SUP 1: 3188.4 Low Sept 26
SUP 2: 3164.0 55-DMA
SUP 3: 3156.2 200-DMA
SUP 4: 3123.6 Low Aug 25