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EUROSTOXX50 TECHS: (U4) Recovery Extends

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • RES 4: 5087.00 High Jul 12 and a key resistance      
  • RES 3: 5040.47 0.618 proj of the Aug 5 - Sep 3 - Sep 10 price swig  
  • RES 2: 4998.00 High Sep 3 and a bull trigger / 5012.00 High Jul 16
  • RES 1: 4957.00 High Sep 19    
  • PRICE: 4925.00 @ 06:13 BST Sep 20
  • SUP 1: 4819.00/ 4729.00 Low Sep 13 / 10 and key support 
  • 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 have traded higher this week as the contract extends the recovery since Sep 10. It is still possible that recent gains are corrective. MA studies remain in a bear-mode position and this highlights a downtrend. A reversal lower would refocus attention on key short-term support at 4729.00, Sep 10 low. Key resistance to watch is 4998.00, Sep 3 high. A break would cancel a bearish theme and strengthen bullish conditions.

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  • RES 4: 5087.00 High Jul 12 and a key resistance      
  • RES 3: 5040.47 0.618 proj of the Aug 5 - Sep 3 - Sep 10 price swig  
  • RES 2: 4998.00 High Sep 3 and a bull trigger / 5012.00 High Jul 16
  • RES 1: 4957.00 High Sep 19    
  • PRICE: 4925.00 @ 06:13 BST Sep 20
  • SUP 1: 4819.00/ 4729.00 Low Sep 13 / 10 and key support 
  • 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 have traded higher this week as the contract extends the recovery since Sep 10. It is still possible that recent gains are corrective. MA studies remain in a bear-mode position and this highlights a downtrend. A reversal lower would refocus attention on key short-term support at 4729.00, Sep 10 low. Key resistance to watch is 4998.00, Sep 3 high. A break would cancel a bearish theme and strengthen bullish conditions.