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Bull Trend Remains Intact

EUROSTOXX50 TECHS
  • RES 4: 3900.30 High May 2008
  • RES 3: 3889.08 1.618 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 2: 3867.28 High Feb 20, 2020
  • RES 1: 3858.79 1.500 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • PRICE: 3833.36 @ Close Mar 12
  • SUP 1: 3780.00 Low Mar 10
  • SUP 2: 3742.53 High Feb 15 and recent breakout level
  • SUP 3: 3656.21 Low Mar 5 and the key near-term support
  • SUP 4: 3622.24 Low Feb 26 and the bear trigger

EUROSTOXX 50 bullish conditions remain intact. The break on Mar 8 above former resistance at 3742.53, Feb 15 high confirmed a resumption of the underlying uptrend and bulls haven't looked back. This maintains the underlying sequence of higher highs and higher lows, reinforcing bullish conditions. The focus is on 3867.28 next, the Feb 20, 2020 high. Firm support is seen at 3742.53. Key trend support lies at 3622.24, Feb 26 low.

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