Although choppy sideways trading has dominated, Stoxx50 has remained capped by the 21-DMA this week with the result being a sharp move lower Thursday that shifts immediate focus to the 2977.5 Aug monthly low. Bulls now need a close above the 200-DMA to ease bearish pressure. The key concern for bears is the close well below the Bollinger band base (3155.1) which may limit follow through today
RES 4: 3259.2 High Sept 25
RES 3: 3231.5 21-DMA
RES 2: 3188.4 Low Oct 1 now resistance
RES 1: 3158.6 200-DMA
PREVIOUS CLOSE: 3106.2
SUP 1: 3101.1 61.8% Fibonacci 2977.5-3301.1
SUP 2: 3065.2 Low Aug 20
SUP 3: 3056.6 Low Aug 18
SUP 4: 3028.6 Low Aug 15