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EUROSTOXX50 TECHS: (U4) Trend Needle Points North

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: 4997.00 High Jul 17  
  • PRICE: 4987.00 @ 06:26 BST Sep 3
  • SUP 1: 4888.95 20-day EMA 
  • SUP 2: 4742.00 Low Aug 15  
  • SUP 3: 4665.00/4494.00 Low Aug 9 / 5 and the bear trigger
  • SUP 4: 4478.81 2.236 proj of the Jun 6 - 14 - Jul 12 price swing

Eurostoxx 50 futures traded higher last week and the contract is holding on to its latest gains. This means all key retracement points of the Jul 12 - Aug 5 bear leg have been cleared. Sights are on 4997.00 next, the Jul 17 high, where a break would open 5087.00, the Jul 12 high. Initial firm support to watch is seen at 4888.95, the 20-day EMA. A break of this average would signal scope for a corrective pullback. 

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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: 4997.00 High Jul 17  
  • PRICE: 4987.00 @ 06:26 BST Sep 3
  • SUP 1: 4888.95 20-day EMA 
  • SUP 2: 4742.00 Low Aug 15  
  • SUP 3: 4665.00/4494.00 Low Aug 9 / 5 and the bear trigger
  • SUP 4: 4478.81 2.236 proj of the Jun 6 - 14 - Jul 12 price swing

Eurostoxx 50 futures traded higher last week and the contract is holding on to its latest gains. This means all key retracement points of the Jul 12 - Aug 5 bear leg have been cleared. Sights are on 4997.00 next, the Jul 17 high, where a break would open 5087.00, the Jul 12 high. Initial firm support to watch is seen at 4888.95, the 20-day EMA. A break of this average would signal scope for a corrective pullback.