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Bullish Above 3175

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: 3349.54 High Jul 24
  • RES 1: 3317.18 High Jul 27
  • PRICE: 3240.39 @ Close Aug 6
  • SUP 1: 3174.38 Low Jul 30
  • SUP 2: 3149.67 Low Jun 25
  • SUP 3: 3054.11 Low Jun 15
  • SUP 4: 3012.50 38.2% retracement of the Mar - Jul rally

EUROSTOXX 50 moderated Thursday, with markets looking to secure a close above the 50-dma. This will have helped soothe the concerns of bulls, who continue to target 3,300.6 ahead of the 200-dma at 3,341.3. The sell-off from 3451.16, Jul 21 high is still exerting influence having accelerated through bull channel support drawn off the Mar 16 low.

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