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Bullish Focus

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: 3402.19 High Jul 22
  • RES 1: 3377.44 High Aug 12
  • PRICE: 3329.71 @ Close Aug 25
  • SUP 1: 3221.42 Low Aug 21 and key near-term support
  • SUP 2: 3220.05 Low Aug 7
  • SUP 3: 3173.98 Low Aug 3 and key support
  • SUP 4: 3149.67 Low Jun 25

EUROSTOXX 50 traded higher again yesterday but did stall at the day high to close flat. This week's gains though signal a potential resumption of the uptrend following a recent corrective pullback. Key S/T support has been defined at 3221.42, Aug 21 low with the focus on resistance at 3377.44, Aug 12 high. A breach of this latter level would open 3451.16, Jul 21 high and the bull trigger, where a break would confirm a resumption of the the uptrend.

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