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EUROSTOXX50 TECHS: (M2) Corrective Cycle

EUROSTOXX50 TECHS
  • RES 4: 4132.00 High Feb 10
  • RES 3: 4072.00 High Feb 16
  • RES 2: 3944.00 High Mar 29 and a key resistance
  • RES 1: 3790.50/3883.00 50-day EMA / High Apr 21
  • PRICE: 3769.00 @ 05:26 BST May 5
  • SUP 1: 3608.00 Low Apr 27 and the bear trigger
  • SUP 2: 3551 60 61.8% retracement of the Mar 7 - 29 rally
  • SUP 3: 3523.00 Low Mar 11
  • SUP 4: 3458.90 76.4% retracement of the Mar 7 - 29 rally

EUROSTOXX 50 futures continue to trade above 3608.00, Apr 27 low. Short-term gains are considered corrective and a bearish trend condition remains intact. This follows a reversal from the Apr 21 high of 3883.00 and price remains below the 50-day EMA. Last week’s breach of support at 3684.00, Apr 12 low has also reinforced a bearish condition. Resistance to watch is; 3790.50, the 50-day EMA and 3883.00, the Apr 21 high.

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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