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Breaches The 50-day EMA

EUROSTOXX50 TECHS
  • RES 4: 3762.35 High Feb 24
  • RES 3: 3668.70 High Feb 25
  • RES 2: 3657.83 High Jan 8 and the bull trigger
  • RES 1: 3621.49 High Jan 25
  • PRICE: 3536.38 @ Close Jan 27
  • SUP 1: 3502.74 Low Jan 27
  • SUP 2: 3455.94 Low Dec 22
  • SUP 3: 3401.14 Low Dec 21 and a key support
  • SUP 4: 3396.02 High Sep 3, 2020

EUROSTOXX 50 traded lower yesterday extending the current pullback from 3657.83, the Jan 8 high. Yesterday saw the index trade through support at 3524.63, the Jan 5 low and the 50-day EMA. This reinforces a bearish case and attention turns to the 3500.00 level where a break would open 3455.94, the Dec 22 low. On the upside, key resistance and the bull trigger remains 3657.83. A break would resume the underlying uptrend.

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