Stoxx50 continues to hesitate ahead of the 3259.2-3302.9 resistance region with layers of support remaining 3106.9-3213.5. Bears now look for a close below 3213.5 to ease bullish pressure and shift focus back to 3156.1-3169.9. A close below the 200-DMA is then needed to hint at a sustained move lower with below the daily channel base (3106.9) confirming breaks of additional key DMAs and initially targeting 3026.4.
RES 4: 3332.9 Weekly Bollinger band top
RES 3: 3302.9 2014 High Sept 19
RES 2: 3279.0 Rising daily channel top
RES 1: 3259.2 High Sept 25
PREVIOUS CLOSE: 3232.7
SUP 1: 3213.5 Low Dec 1
SUP 2: 3193.4 Low Nov 24
SUP 3: 3169.9 Alternating daily support/resistance
SUP 4: 3156.1 200-DMA
