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EUROSTOXX50 TECHS: (Z4) Strong Start

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • RES 4: 5100.00 Round number resistance       
  • RES 3: 5065.38 0.618 proj of the Aug 5 - Sep 3 - Sep 6 price swig  
  • RES 2: 5024.00 High Sep 3 and a bull trigger 
  • RES 1: 5010.00 High Sep 26    
  • PRICE: 5008.00 @ 07:37 BST Sep 26
  • SUP 1: 4848/4757.00 Low Sep 13 / Low Sep 6 and 10 
  • SUP 2: 4715.62 61.8% retracement of the Aug 5 - Sep 3 bull cycle 
  • SUP 3: 4642.76 76.4% retracement of the Aug 5 - Sep 3 bull cycle
  • SUP 4: 4586.00 Low Aug 6  

Eurostoxx 50 futures have started the session strongly, reorienting focus on the September highs and bull trigger at 5024.00. It is still possible that recent gains are corrective. MA studies are in a bear-mode position and this highlights a downtrend. A reversal lower would refocus attention on key support at 4757.00, the Sep 6 / 10 lows. Key resistance is 5024.00, the Sep 3 high. A break would cancel a bearish theme and strengthen bullish conditions.        

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  • RES 4: 5100.00 Round number resistance       
  • RES 3: 5065.38 0.618 proj of the Aug 5 - Sep 3 - Sep 6 price swig  
  • RES 2: 5024.00 High Sep 3 and a bull trigger 
  • RES 1: 5010.00 High Sep 26    
  • PRICE: 5008.00 @ 07:37 BST Sep 26
  • SUP 1: 4848/4757.00 Low Sep 13 / Low Sep 6 and 10 
  • SUP 2: 4715.62 61.8% retracement of the Aug 5 - Sep 3 bull cycle 
  • SUP 3: 4642.76 76.4% retracement of the Aug 5 - Sep 3 bull cycle
  • SUP 4: 4586.00 Low Aug 6  

Eurostoxx 50 futures have started the session strongly, reorienting focus on the September highs and bull trigger at 5024.00. It is still possible that recent gains are corrective. MA studies are in a bear-mode position and this highlights a downtrend. A reversal lower would refocus attention on key support at 4757.00, the Sep 6 / 10 lows. Key resistance is 5024.00, the Sep 3 high. A break would cancel a bearish theme and strengthen bullish conditions.