The sell-off from the Sept highs continued last week with Stoxx50 closing below 55,100 & 200-DMAs following a sharp lower and bearish close Thursday. Bulls need to see a close above the 200-DMA to confirm an easing of bearish pressure whereas a close above the 21-DMA is needed to confirm an end to bearish hopes and shift focus back to the 200-DMA. Bearish focus has now returned to retests of the Aug monthly low and then 2014 lows.
RES 4: 3259.2 High Sept 25
RES 3: 3224.7 21-DMA
RES 2: 3188.4 Low Oct 1 now resistance
RES 1: 3158.5 200-DMA
PREVIOUS CLOSE: 3133.2
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