Volatile trading continues for Stoxx50 as a triangle begins to form on the daily chart. Bulls look for a close above 3177.0 to confirm a topside break, ending bearish hopes and shifting focus to the 3278.6-3302.9 region where the 2014 high is located. Bears look for a close below 2998.5 to confirm a break to the downside and the current bearish bias targeting 2014 lows. The Bollinger band base is the key concern for bears on a break lower.
RES 4: 3199.2 High Dec 10
RES 3: 3177.0 High Jan 2
RES 2: 3145.0 Falling daily trend line
RES 1: 3139.9 High Jan 8
PREVIOUS CLOSE: 3042.7
SUP 1: 2998.5 Low Jan 6
SUP 2: 2970.8 Bollinger band base
SUP 3: 2921.7 Monthly Low Dec 16
SUP 4: 2906.0 Low Oct 21
