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EUROSTOXX50 TECHS: (Z4) Bull Cycle Remains In Play

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • RES 4: 5256.00 1.00 proj of the Aug 5 - Sep 3 -  6 price swing
  • RES 3: 5200.00 Round number resistance       
  • RES 2: 5138.24 0.764 proj of the Aug 5 - Sep 3 -  6 price swing
  • RES 1: 5106.00 Intraday high     
  • PRICE: 5101.00 @ 06:12 BST Sep 30
  • SUP 1: 4912.97 50-day EMA 
  • SUP 2: 4848/4757.00 Low Sep 13 / Low Sep 6 and 10
  • SUP 3: 4813.00 Low Sep 12  
  • SUP 4: 4757.00 Low Sep 6 / 10 and key support   

Eurostoxx 50 futures traded sharply higher last week resulting in a clear break of  5024.00, the Sep 3 high. This confirms a resumption of the bull leg that started Aug 5  and cancels a recent bearish heme. Scope is seen for a climb towards 5138.24, a Fibonacci projection, and the 5200 handle further out. On the downside, key short-term support is seen at 4912.97, the 50-day EMA. 

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  • RES 4: 5256.00 1.00 proj of the Aug 5 - Sep 3 -  6 price swing
  • RES 3: 5200.00 Round number resistance       
  • RES 2: 5138.24 0.764 proj of the Aug 5 - Sep 3 -  6 price swing
  • RES 1: 5106.00 Intraday high     
  • PRICE: 5101.00 @ 06:12 BST Sep 30
  • SUP 1: 4912.97 50-day EMA 
  • SUP 2: 4848/4757.00 Low Sep 13 / Low Sep 6 and 10
  • SUP 3: 4813.00 Low Sep 12  
  • SUP 4: 4757.00 Low Sep 6 / 10 and key support   

Eurostoxx 50 futures traded sharply higher last week resulting in a clear break of  5024.00, the Sep 3 high. This confirms a resumption of the bull leg that started Aug 5  and cancels a recent bearish heme. Scope is seen for a climb towards 5138.24, a Fibonacci projection, and the 5200 handle further out. On the downside, key short-term support is seen at 4912.97, the 50-day EMA.