After flirting with the triangle top Stoxx50 is now heading back towards the triangle base with a bearish bias favoured while 3177.0 caps. In saying that, bears need a close below 2998.5 to confirm a downside break of the triangle, confirming overall focus on tests of the 2014 low. Bulls continue to look for a close above 3177.0 to confirm a topside break of the triangle and 200-DMA, targeting the 3278.6-3302.9 region.
RES 4: 3199.2 High Dec 10
RES 3: 3177.0 High Jan 2
RES 2: 3158.6 200-DMA
RES 1: 3148.3 Triangle top
PREVIOUS CLOSE: 3089.5
SUP 1: 3077.3 Low Jan 14
SUP 2: 3029.8 Triangle base
SUP 3: 2998.5 Low Jan 6
SUP 4: 2921.7 Monthly Low Dec 16
