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EUROSTOXX50 TECHS: (M3) Bull Cycle Still 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: 4300.00 Round number resistance
  • PRICE: 4275.00 @ 06:21 BST Apr 12
  • SUP 1: 4229.00 Low Apr 5
  • SUP 2: 4190.60 20-day EMA
  • SUP 3: 4139.80 50-day EMA
  • SUP 4: 4034.00 Low Mar 24 and a key support

Eurostoxx 50 futures maintained a firmer tone Tuesday and the contract traded to a fresh trend high of 4299.00. Price has recently breached resistance at 4268.00, the Mar 6 high and a key hurdle for bulls. The break of this level strengthens bullish conditions with sights on gains above 4300.00. Moving average studies are in a bull-mode set-up and this highlights a broader uptrend. Initial firm support lies at 4190.60, the 20-day EMA.

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