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Attention Is On The Directional Triggers

EUROSTOXX50 TECHS
  • RES 4: 3498.07 76.4% retracement of the Feb - Mar sell-off
  • RES 3: 3451.16 High Jul 21 and the bull trigger
  • RES 2: 3402.19 High Jul 22
  • RES 1: 3377.44 High Aug 12
  • PRICE: 3337.77 @ Close Sep 2
  • SUP 1: 3221.42 Low Aug 21 and key near-term support
  • SUP 2: 3220.05 Low Aug 7
  • SUP 3: 3173.98 Low Aug 3 and key support
  • SUP 4: 3149.67 Low Jun 25

Recent price action in EUROSTOXX 50 has defined two key short-term directional triggers. Resistance is at 3377.44, Aug 12 high and support lies at 3221.42 . The outlook remains bullish, however a break of 3377.44 is required to signal scope for a resumption of strength. This would open 3451.16, Jul 21 high and the key bull trigger. On the downside, weakness through 3451.16 would instead expose 3173.98, Aug 3 low.

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