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Eurostoxx Futures Target 4206.0 Bull Trigger

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EUROSTOXX 50 futures remain above support at 4097.00, the Jan 19 low. The trend outlook is bullish, however, the cycle remains overbought and this continues to warn of the potential for a short-term corrective pullback. A move lower would allow the overbought reading to unwind and open 4075.60, the 20-day EMA and a key near-term support. Key resistance and the bull trigger is at 4206.00, the Jan 18 high. A breach would resume the uptrend. S&P E-Minis have recovered from yesterday’s low. Attention is on key S/T resistance at 4056.75, Jan 23 high. A break of this level would confirm a resumption of recent bullish activity and signal scope for a climb towards 4100.00 and key resistance at 4180.00 further out, the Dec 13 high. The key short-term support to watch lies at 3901.75, the Jan 19 low. A break would be bearish. 4056.75 and 3901.75 represent important directional triggers.


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EUROSTOXX 50 futures remain above support at 4097.00, the Jan 19 low. The trend outlook is bullish, however, the cycle remains overbought and this continues to warn of the potential for a short-term corrective pullback. A move lower would allow the overbought reading to unwind and open 4075.60, the 20-day EMA and a key near-term support. Key resistance and the bull trigger is at 4206.00, the Jan 18 high. A breach would resume the uptrend. S&P E-Minis have recovered from yesterday’s low. Attention is on key S/T resistance at 4056.75, Jan 23 high. A break of this level would confirm a resumption of recent bullish activity and signal scope for a climb towards 4100.00 and key resistance at 4180.00 further out, the Dec 13 high. The key short-term support to watch lies at 3901.75, the Jan 19 low. A break would be bearish. 4056.75 and 3901.75 represent important directional triggers.


Keep reading...Show less