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Consolidating Ahead Of 4000

  • 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: 3988.10 High Apr 7
  • PRICE: 3699.99 @ Close Apr 13
  • SUP 1: 3950.18 Low Apr 6
  • SUP 2: 3910.90 Low Mar 31
  • SUP 3: 3898.77 20-day EMA
  • SUP 4: 3841.46 Low Mar 26

EUROSTOXX 50 is consolidating but maintains a bullish theme. The index registered a fresh trend high on Apr 6 of 3988.10. 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 short-term top. Bullish!

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