Stoxx50 continues recover lost ground with immediate focus having shifted to the 3034.9 resistance level. Ideally bulls look for a close above the 21-DMA to hint at a shift in focus to the 2014 highs with a close above the 3169.9 level needed to confirm. Initial support is now noted at Wednesday’s low with bears needing a close below to regain control and shift overall focus back to the 2989.6-2872.5 region.
RES 4: 3106.4 Previous daily support now resistance
RES 3: 3090.4 High Oct 9
RES 2: 3070.4 21-DMA
RES 1: 3034.9 High Oct 10
PREVIOUS CLOSE: 3008.3
SUP 1: 2987.8 Low Oct 22
SUP 2: 2906.0 Low Oct 21
SUP 3: 2872.5 Low Oct 17
SUP 4: 2789.6 2014 Low Oct 16