Losses continued for Stoxx50 Wednesday with the index working its way towards the Aug monthly low. Key concerns for bears are seen coming from the O/S daily studies and proximity of the Bollinger band base which is likely to start to limit downside follow through which it catches up. Bulls now need a close above 3106.4 to ease bearish pressure and above 3169.9 to target 2014 highs
RES 4: 3169.9 High Oct 6
RES 3: 3128.9 High Oct 7
RES 2: 3106.4 Previous daily support now resistance
RES 1: 3087.1 High Oct 8
PREVIOUS CLOSE: 3053.1
SUP 1: 3028.6 Low Aug 15
SUP 2: 3017.6 Low Aug 12
SUP 3: 2977.5 Monthly Low Aug 8
SUP 4: 2971.5 Monthly Low Mar 14