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Closing In On 4000

EUROSTOXX50 TECHS
  • RES 4: 4110.24 High Jan 18, 2008
  • RES 3: 4047.72 2.236 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 2: 4000.00 Psychological round number
  • RES 1: 3997.69 High Apr 7
  • PRICE: 3993.43 @ Close Apr 15
  • SUP 1: 3953.26 Low Apr 6
  • SUP 2: 3914.46 20-day EMA
  • SUP 3: 3910.90 Low Mar 31
  • SUP 4: 3841.46 Low Mar 26

EUROSTOXX 50 maintains a bullish theme and traded higher yesterday registering a fresh trend high of 3997.69. The recovery from 3784.09, Mar 25 low confirmed a resumption of the uptrend, extending the bullish price sequence of higher highs and higher lows. Attention is on the psychological 4000.00 handle next. On the downside, key trend support is at 3784.09. A break is required to signal a potential top. Initial support is at 3953.26.

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