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EUROSTOXX50 TECHS: (M3) Bull Cycle Remains In Play

EUROSTOXX50 TECHS
  • RES 4: 4403.50 High Nov 18 2021 (cont) and a major resistance
  • RES 3: 4381.50 High Jan 5 2022 (cont)
  • RES 2: 4324.50 High Jan 13 2022 (cont)
  • RES 1: 4321.00 Wednesday’s high
  • PRICE: 4293.00 @ 06:24 BST Apr 13
  • SUP 1: 4229.00 Low Apr 5
  • SUP 2: 4199.30 20-day EMA
  • SUP 3: 4145.40 50-day EMA
  • SUP 4: 4034.00 Low Mar 24 and a key support

Eurostoxx 50 futures remain firm. The contract traded to a fresh cycle high Wednesday of 4321.00, reinforcing bullish conditions. Price has recently breached 4268.00, the Mar 6 high and a key hurdle for bulls. The break strengthens bullish conditions and opens 4324.50, the Jan 13 2022 high (cont). Moving average studies are in a bull-mode set-up and this highlights a broader uptrend. Initial firm support lies at 4199.30, the 20-day EMA.

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