Stoxx50 continued to make fresh 8 month lows Tuesday as the index fell just short of the 2014 low before bouncing back above the Bollinger band base which appears to be limiting follow through. Bulls continue to look for a close above 3034.9 to ease bearish pressure a little whereas a close above 3090.4 remains needed to shift focus back to key DMAs clustered 3146.0-3186.1. Bears remain focused on the 2932.1-2944.1 region.
RES 4: 3128.9 High Oct 7
RES 3: 3106.4 Previous daily support now resistance
RES 2: 3090.4 High Oct 9
RES 1: 3034.9 High Oct 10
PREVIOUS CLOSE: 3001.1
SUP 1: 2971.3 Bollinger band base
SUP 2: 2944.1 2014 Low Feb 4
SUP 3: 2932.1 100-WMA
SUP 4: 2916.7 Monthly Low Dec 13 2013