Stoxx50 continues to test the top of the rising daily channel as bulls remain focused on the 3259.2-3302.9 region where the 2014 high is located. Bears now need a close below 3193.4 to ease bullish pressure and a close below the 200-DMA to hint at a move back to the key 3026.4 support. The key concern for bulls is seen coming from the Bollinger band top which is likely to continue to limit follow through.
RES 4: 3309.2 Weekly Bollinger band top
RES 3: 3302.9 2014 High Sept 19
RES 2: 3259.2 High Sept 25
RES 1: 3248.8 Rising daily channel top
PREVIOUS CLOSE: 3226.0
SUP 1: 3193.4 Low Nov 24
SUP 2: 3169.9 Alternating daily support/resistance
SUP 3: 3154.0 200-DMA
SUP 4: 3124.2 100-DMA
