Gains continued for Stoxx50 to start the new week with the Bollinger band top (3186.8) currently limiting follow through as the index pulled back a little from the top of the rising daily channel. Layers of support remain 3026.4-3169.9 with bears needing a close below 3169.9 to confirm an easing of bullish pressure and a close below the 55-DMA to shift focus back to the key 3026.4 support.
RES 4: 3307.2 Weekly Bollinger band top
RES 3: 3302.9 2014 High Sept 19
RES 2: 3259.2 High Sept 25
RES 1: 3241.2 Rising daily channel top
PREVIOUS CLOSE: 3211.5
SUP 1: 3169.9 Alternating daily support/resistance
SUP 2: 3153.4 200-DMA
SUP 3: 3123.8 100-DMA
SUP 4: 3109.0 55-DMA
