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(M2) Breaches Support

EUROSTOXX50 TECHS
  • RES 4: 4132.00 High Feb 10
  • RES 3: 4072.00 High Feb 16
  • RES 2: 3944.00 High Mar 29 and a key resistance
  • RES 1: 3883.00 High Apr 21
  • PRICE: 3745.00 @ 05:53 BST Apr 26
  • SUP 1: 3665.00 Low Apr 25
  • 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 failed to hold onto last week’s highs and are again trading below both the 20- and 50-day EMAs. Yesterday’s move lower resulted in a break of support at 3684.00, the Apr 12 low and a bear trigger. Clearance of this support highlights a resumption of bearish activity and opens 3626.50, a Fibonacci retracement. For bulls, a break above 3883.00, Apr 21 high, would open the 3944.00 key resistance point.

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