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EUROSTOXX50 TECHS: (Z4) Trend Needle Points South

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5015.00 High Oct 21 
  • RES 3: 5106.00 High Sep 30 and a bull trigger       
  • RES 2: 4961.00 High Nov 6 and a key short-term resistance 
  • RES 1: 4831.33/4882. 20- and 50-day EMA values       
  • PRICE: 4777.00 @ 06:21 GMT Nov 22 
  • SUP 1: 4699.00 Low Nov 19     
  • SUP 2: 4707.00 Low Aug 9   
  • SUP 3: 4662.12 .76.4% retracement of the Aug 5 - Sep 30 bull cycle
  • SUP 4: 4586.00 Low Aug 6   

A bearish theme in the Eurostoxx 50 futures contract remains intact. A fresh cycle low this week marks a resumption of the downtrend that started Sep 30. Price has breached 4746.94, 61.8% of the Aug 5 - Sep 30 bull cycle. This exposes 4662.12, the 76.4% retracement point. Initial firm resistance has been defined at 4961.00, the Nov 6 high, where a break would highlight a reversal. First resistance is at 4831.33, the 20-day EMA.

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  • RES 4: 5015.00 High Oct 21 
  • RES 3: 5106.00 High Sep 30 and a bull trigger       
  • RES 2: 4961.00 High Nov 6 and a key short-term resistance 
  • RES 1: 4831.33/4882. 20- and 50-day EMA values       
  • PRICE: 4777.00 @ 06:21 GMT Nov 22 
  • SUP 1: 4699.00 Low Nov 19     
  • SUP 2: 4707.00 Low Aug 9   
  • SUP 3: 4662.12 .76.4% retracement of the Aug 5 - Sep 30 bull cycle
  • SUP 4: 4586.00 Low Aug 6   

A bearish theme in the Eurostoxx 50 futures contract remains intact. A fresh cycle low this week marks a resumption of the downtrend that started Sep 30. Price has breached 4746.94, 61.8% of the Aug 5 - Sep 30 bull cycle. This exposes 4662.12, the 76.4% retracement point. Initial firm resistance has been defined at 4961.00, the Nov 6 high, where a break would highlight a reversal. First resistance is at 4831.33, the 20-day EMA.