After having recently flirted with the 100-DMA (3198.0) Stoxx50 managed a close below Monday which adds weight to the bearish case and sees pressure shift to the 55 & 200-DMAs. A close below the 200-DMA would reconfirm bearish pressure and see overall focus shift to 2014 lows. Bulls now need a close above the 21-DMA to confirm an easing of bearish pressure and 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: 3233.7 21-DMA
PREVIOUS CLOSE: 3187.0
SUP 1: 3164.0 55-DMA
SUP 2: 3156.9 200-DMA
SUP 3: 3123.6 Low Aug 25
SUP 4: 3065.2 Low Aug 20