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Bullish Conditions Intact

EUROSTOXX50 TECHS
  • RES 4: 3451.16 High Jul 21 and the bull trigger
  • RES 3: 3424.15 4.0% 10-dma envelope
  • RES 2: 3402.19 High Jul 22
  • RES 1: 3377.44 High Aug 12
  • PRICE: 3305.85 @ Close Aug 17
  • SUP 1: 3269.91 Low Aug 11
  • SUP 2: 3220.05 Low Aug 7
  • SUP 3: 3174.32 Low Jul 31 and key support
  • SUP 4: 3149.67 Low Jun 25

EUROSTOXX 50 is unchanged and remains in an uptrend despite the recent pullback off 3377.44, Aug 12 high. Attention is on resistance levels that lie ahead. A break of the Aug 12 high would open 3402.19, Jul 22 high and the bull trigger at 3451.16, Jul 21 high. Key support has been defined at 3174.32, Jul 31 low where a break would instead confirm the start of a bearish cycle. Initial firm support lies at 3220.05.

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