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EUROSTOXX50 TECHS: (U4) Monitoring Resistance At The 50-Day EMA 

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • RES 4: 5132.00 High Jun 6       
  • RES 3: 5087.00 High Jul 12 and a key resistance    
  • RES 2: 5012.00 High Jul 16
  • RES 1: 4863.47/4998.00 50-day EMA / High Sep 3 and a bull trigger   
  • PRICE: 4856.00 @ 06:09 BST Sep 18
  • SUP 1: 4729.00 Low Sep 10
  • SUP 2: 4686.53 61.8% retracement of the Aug 5 - Sep 3 bull cycle 
  • SUP 3: 4612.94 76.4% retracement of the Aug 5 - Sep 3 bull cycle
  • SUP 4: 4558.00 Low Aug 6  

Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The sell-off between Sep 3 - 10, highlights a potential reversal and note that moving average studies remain in  a bear-mode set-up. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4863.45, the 50-day EMA. This EMA has been pierced, a clear break of it would strengthen a bullish condition.

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  • RES 4: 5132.00 High Jun 6       
  • RES 3: 5087.00 High Jul 12 and a key resistance    
  • RES 2: 5012.00 High Jul 16
  • RES 1: 4863.47/4998.00 50-day EMA / High Sep 3 and a bull trigger   
  • PRICE: 4856.00 @ 06:09 BST Sep 18
  • SUP 1: 4729.00 Low Sep 10
  • SUP 2: 4686.53 61.8% retracement of the Aug 5 - Sep 3 bull cycle 
  • SUP 3: 4612.94 76.4% retracement of the Aug 5 - Sep 3 bull cycle
  • SUP 4: 4558.00 Low Aug 6  

Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The sell-off between Sep 3 - 10, highlights a potential reversal and note that moving average studies remain in  a bear-mode set-up. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4863.45, the 50-day EMA. This EMA has been pierced, a clear break of it would strengthen a bullish condition.