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EUROSTOXX50 TECHS: (H3) Bear Cycle Extends

EUROSTOXX50 TECHS
  • RES 4: 4409.50 High Nov 18 2021 and a major resistance (cont)
  • RES 3: 4381.50 High Jan 5 2022 (cont)
  • RES 2: 4328.00 High Mar 6 and the bull trigger
  • RES 1: 4166.70/4161.50 50- and 20-day EMA values
  • PRICE: 4106.00 @ 06:03 GMT Mar 16
  • SUP 1: 4015.00 Low Mar 15
  • SUP 2: 4000.00 Round number support
  • SUP 3: 3955.00 Low Jan 5
  • SUP 4: 3916.20 38.2% retracement of the Sep 29 - Mar 6 bull phase

The Eurostoxx 50 futures move lower Wednesday marks a resumption of the current downtrend. The contract traded through Monday’s low and this reinforces last week’s breach of a key support at the base of a bull channel drawn from the Oct 13 low. The trendline break highlights a reversal of the uptrend that started late September 2022. The focus is on the 4000.00 handle next. Initial firm resistance is at 4212.50, the 20-day EMA.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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