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(M2) Fails To Hold On To Thursday’s High

EUROSTOXX50 TECHS
  • RES 4: 4132.00 High Feb 10
  • RES 3: 4072.00 High Feb 16
  • RES 2: 3944.00 High Mar 29and a key resistance
  • RES 1: 3883.00 High Apr 21
  • PRICE: 3777.00 @ 05:40 BST Apr 22
  • SUP 1: 3684.00 Low Apr 12 and the bear trigger
  • SUP 2: 3626.50 50.0% retracement of the Mar 7 - 29 rally
  • SUP 3: 3551.60 61.8% retracement of the Mar 7 - 29 rally
  • SUP 4: 3523.00 Low Mar 11

EUROSTOXX 50 futures traded higher Thursday, however, the contract has failed to hold onto this week’s highs and is again trading below both the 20- and 50-day EMAs. A continuation lower would refocus attention on key short-term support at 3684.00, the Apr 12 low and bear trigger. Clearance of this support would resume recent bearish activity. For bulls, a break above yesterday’s high of 3883.00 would open the 3944.00 key resistance point.

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