Stoxx50 remains heavy as it continues to lose ground with bears retaining overall focus on the 2014 low at 2789.6. Layers of resistance remain with bulls now needing a close above 3080.5 to ease bearish pressure and above 3177.0 to shift focus back to the 3278.6-3302.0 region where the 2014 high is located. Daily studies have room to move but the Bollinger band base is becoming a concern for bears
RES 4: 3199.2 High Dec 10
RES 3: 3177.0 High Jan 2
RES 2: 3110.1 Hourly resistance Jan 5
RES 1: 3080.5 Low Dec 18 now resistance
PREVIOUS CLOSE: 3007.7
SUP 1: 2984.4 Bollinger band base
SUP 2: 2921.7 Monthly Low Dec 16
SUP 3: 2906.0 Low Oct 21
SUP 4: 2789.6 2014 Low Oct 16
