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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Approaching 4000.00

  • RES 4: 4110.24 High Jan 18, 2008
  • RES 3: 4047.72 2.236 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 2: 4000.00 Psychological round number
  • RES 1: 3988.10 High Apr 6
  • PRICE: 3970.42 @ Close Apr 6
  • SUP 1: 3885.11 Low Mar 30
  • SUP 2: 3841.46 Low Mar 26
  • SUP 3: 3784.09 Low Mar 25 and key support
  • SUP 4: 3742.53 High Feb 15 and recent breakout level

EUROSTOXX 50 registered a fresh trend high again yesterday and bullish trend conditions remain firmly in place. Last week's gains confirmed a resumption of the uptrend, extending the bullish price sequence of higher highs and higher lows. Attention is on the psychological 4000.00 next. On the downside, key trend support has been defined at 3784.09, Mar 25 low. A break is required to signal a potential short-term top. Bullish!

MNI London Bureau | +44 203-586-3805 |

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