Stoxx50 continues to consolidate at lofty levels as bulls remain focused on the 3426.7-3452.1 region where 2015 highs and the trend line extension are located. Bears need a close below Thursday’s 3376.8 low to confirm an easing of bullish pressure. Overall a close below the key 3326.4 support is needed to hint at a deeper correction that initially targets the 3261.8-3287.0 region where the 21-DMA is located.
RES 4: 3530.3 Bollinger band top
RES 3: 3456.8 Monthly High Aug 2008
RES 2: 3452.1 Daily trend line extension
RES 1: 3426.7 2015 High Feb 3
PREVIOUS CLOSE: 3398.0
SUP 1: 3376.8 Low Feb 5
SUP 2: 3326.4 Low Jan 29
SUP 3: 3287.0 21-DMA
SUP 4: 3261.8 Low Jan 22
