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Bullish Trend Conditions Remain 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: 3273.28 @ Close Oct 14
  • 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 maintains a bullish tone despite the pullback off Monday's high. Trend conditions have improved for bulls 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. Pullbacks are corrective in nature. Attention is on 3348.77, Sep 16 high. Support is at 3254.13.

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