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(M2) Bearish Extension

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: 3766.30/3883.00 20-day EMA / High Apr 21
  • PRICE: 3643.00 @ 05:45 BST Apr 27
  • SUP 1: 3619.00 Intraday low
  • SUP 2: 3551 60 61.8% retracement of the Mar 7 - 29 rally
  • SUP 3: 3523.00 Low Mar 11
  • SUP 4: 3458.90 76.4% retracement of the Mar 7 - 29 rally

EUROSTOXX 50 futures traded lower Tuesday. The trend condition remains bearish following a reversal from last week’s highs, and price continues to trade below the 20- and 50-day EMAs. Monday’s move lower resulted in a break of support at 3684.00, the Apr 12 low and a bear trigger, strengthening the case for bears. This opens, 3551.60, a Fibonacci retracement. For bulls, a break above 3883.00, Apr 21 high, would alter the picture.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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