After having remained capped by the 21-DMA (3042.2) Stoxx50 managed a brief spike above to start the new week only to reverse sharply lower for a relatively bearish close. Initial support remains at Wednesday’s 2971.9 low with bears needing a close below to confirm bearish pressure and shift overall focus back to the 2789.6-2872.5 region. Bulls need a close above 3062.0 to confirm a break of the 21-DMA and hint at a shift in focus to the 2014 highs
RES 4: 3129.9 55-DMA
RES 3: 3105.7 61.8% Fibonacci 3301.1-2789.6
RES 2: 3090.4 High Oct 9
RES 1: 3062.0 High Oct 27
PREVIOUS CLOSE: 2998.7
SUP 1: 2971.9 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