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Bullish Trend Structure Remains Intact

EUROSTOXX50 TECHS
  • RES 4: 3668.70 High Feb 25
  • RES 3: 3630.53 0.618 proj of Mar 16 - Jul 21 rally from Oct 29 low
  • RES 2: 3553.05 High Feb 27
  • RES 1: 3538.52 High Nov 30
  • PRICE: 3525.24 @ Close Dec 1
  • SUP 1: 3476.61 Low Nov 24
  • SUP 2: 3440.22 Low Nov 19
  • SUP 3: 3424.87 20-day EMA
  • SUP 4: 3396.02 High Sep 3 and key near-term support

EUROSTOXX 50 maintains a bullish theme. The rally on Nov 9 and subsequent follow through resulted in a breach of key resistance at 3451.16, Jul 21 high. This confirmed a resumption of the broader recovery since the March lows. Also, 3498.07, 76.4% of the Feb - Mar sell-off has been breached setting the scene for a climb towards the 3600.00 handle. 3553.05, Feb 27 high is the next objective. 3396.02 is firm support.

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