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Bull Trend Extends

  • RES 4: 3889.08 1.618 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 3: 3867.28 High Feb 20, 2020
  • RES 2: 3828.51 1.382 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 1: 3822.66 High Mar 10
  • PRICE: 3819.92 @ Close Mar 10
  • SUP 1: 3742.53 High Feb 15 and recent breakout level
  • SUP 2: 3656.21 Low Mar 5 and the key near-term support
  • SUP 3: 3622.24 Low Feb 26 and the bear trigger
  • SUP 4: 3576.43 61.8% retracement of the Jan 28 - Feb 15 rally

EUROSTOXX 50 bullish conditions remain intact. The index resumed its bullish cycle again yesterday, rallying and closing near session highs. This week's move above former resistance at 3742.53, Feb 15 high confirmed a resumption of the underlying uptrend and paves the way for gains towards 3828.51 next, a Fibonacci projection. Near-term firm support has been defined at 3656.21, Feb 5 low. Initial support is at 3742.53.

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