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Bullish Conditions Intact

EUROSTOXX50 TECHS
  • RES 4: 3762.35 High Feb 24
  • RES 3: 3668.70 High Feb 25
  • RES 2: 3630.53 0.618 proj of Mar 16 - Jul 21 rally from Oct 29 low
  • RES 1: 3603.17 High Dec 29
  • PRICE: 3571.59 @ Close Dec 30
  • SUP 1: 3522.83 20-day EMA
  • SUP 2: 3401.14 Low Dec 21
  • SUP 3: 3396.02 High Sep 3 and a key support
  • SUP 4: 3332.19 38.2% retracement of the Oct 29 - Dec 18 rally

EUROSTOXX 50 traded higher Tuesday, extending the recovery from 3401.14 low, Dec 21 low. This week's breach of 3586.44, Dec 18 high and the bull trigger, confirms the end of the recent corrective pullback and also highlights a resumption of the bull trend. This has opened 3630.53, a Fibonacci projection. On the downside, key support has been defined at 3401.14, Dec 21 low.

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