EUROSTOXX50 TECHS: (U4) Holding On To Its Recent Gains   

• RES 4: 5087.00 High Jul 12   
• RES 3: 4997.00 High Jul 17     
• RES 2: 4951.00 High Jul 31 and a key near-term resistance 
• RES 1: 4928.00 High Aug 22   
• PRICE: 4902.00 @ 06:30 BST Aug 23
• SUP 1: 4821.93 20-day EMA 
• SUP 2: 4665.00/4494.00 Low Aug 9 / 5 and the bear trigger
• SUP 3: 4478.81 2.236 proj of the Jun 6 - 14 - Jul 12 price swing
• SUP 4: 4424.64 61.8% of the Oct 27 ‘23 - May 16 bull cycle (cont)

Eurostoxx 50 futures have traded higher this week and the pair is holding on to its latest gains. The contract has pierced the 50-day EMA, at 4870.23. An extension higher would undermine the recent bearish theme and highlight a stronger reversal. This would open 4951.00 next, the Jul 31 high. For bears, a reversal lower would refocus attention on the bear trigger at 4494.00, the Aug 5 low.