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EUROSTOXX50 TECHS: (Z4) Trading Below Resistance

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: 4985.00 High Sep 19    
  • PRICE: 4950.00 @ 06:06 BST Sep 25
  • 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 traded higher last week as the contract extended the recovery from the Sep 10 low. 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: 4985.00 High Sep 19    
  • PRICE: 4950.00 @ 06:06 BST Sep 25
  • 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 traded higher last week as the contract extended the recovery from the Sep 10 low. 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.