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EUROSTOXX50 TECHS: (U2) Heading North

EUROSTOXX50 TECHS
  • RES 4: 3840.00 High Jun 6
  • RES 3: 3774.00 High Jun 9
  • RES 2: 3722.70 76.4% retracement of the Jun 6 - Jul 5 downleg
  • RES 1: 3689.00 High Jun 10
  • PRICE: 3663.00 @ 05:52 BST Jul 29
  • SUP 1: 3565.20/3467.00 50-day EMA / Low Jul 18 / 19
  • SUP 2: 3343.00 Low Jul 5 and the bear trigger
  • SUP 3: 3321.30 50.0% of the major 2020 - 2021 upleg (cont)
  • SUP 4: 3300.00 Round number support

EUROSTOXX 50 futures traded higher Thursday, marking an extension of Wednesday's gains that confirmed a bull flag on the daily chart and a resumption of the current uptrend. The short-term outlook remains bullish and the focus is on a recovery towards 3689.00 next, the Jun 10 high. The key support and bear trigger is unchanged at 3343.00, Jul 5 low. Initial firm support to watch lies at 3565.20, the 50-day EMA.

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  • RES 4: 3840.00 High Jun 6
  • RES 3: 3774.00 High Jun 9
  • RES 2: 3722.70 76.4% retracement of the Jun 6 - Jul 5 downleg
  • RES 1: 3689.00 High Jun 10
  • PRICE: 3663.00 @ 05:52 BST Jul 29
  • SUP 1: 3565.20/3467.00 50-day EMA / Low Jul 18 / 19
  • SUP 2: 3343.00 Low Jul 5 and the bear trigger
  • SUP 3: 3321.30 50.0% of the major 2020 - 2021 upleg (cont)
  • SUP 4: 3300.00 Round number support

EUROSTOXX 50 futures traded higher Thursday, marking an extension of Wednesday's gains that confirmed a bull flag on the daily chart and a resumption of the current uptrend. The short-term outlook remains bullish and the focus is on a recovery towards 3689.00 next, the Jun 10 high. The key support and bear trigger is unchanged at 3343.00, Jul 5 low. Initial firm support to watch lies at 3565.20, the 50-day EMA.