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Bullish Trend Conditions Intact

EUROSTOXX50 TECHS
  • RES 4: 3396.02 High Sep 3
  • RES 3: 3348.77 High Sep 16 and key near-term resistance
  • RES 2: 3326.79 High Sep 18
  • RES 1: 3305.77 High Oct 12 and the intraday bull trigger
  • PRICE: 3279.19 @ Close Oct 13
  • SUP 1: 3254.13 Low Oct 9
  • SUP 2: 3219.33 Low Oct 7
  • SUP 3: 3147.28 Low Oct 2 and key support
  • SUP 4: 3097.67 Low Sep 25 and the bear trigger

EUROSTOXX 50 rallied higher Monday, starting the week on a firm note. Bullish trend conditions have improved following last week's breach of 3227.43, Sep 28 high. Furthermore price has traded through the resistance zone defined by the 20- and 50-day EMAs. The move beyond these averages strengthens a bullish argument. S/T pullbacks are likely corrective in nature. Attention is on 3348.77, Sep 16 high. Support is at 3254.13.

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