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Focus Is On Support

EUROSTOXX50 TECHS
  • RES 4: 3348.77 High Sep 16
  • RES 3: 3326.79 High Sep 18
  • RES 2: 3305.77 High Oct 12 and key near-term resistance
  • RES 1: 3282.52 High Oct 19
  • PRICE: 3242.51 @ Close Oct 19
  • SUP 1: 3174.64 Low Oct 15
  • SUP 2: 3147.28 Low Oct 2 and key support
  • SUP 3: 3097.67 Low Sep 25 and the bear trigger
  • SUP 4: 3054.11 Low June 15

EUROSTOXX 50 suffered a sharp setback on Oct 15 extending the pullback from 3305.77, Oct 12 high. The move lower potentially reverses the recent recovery since Sep 25. Attention is on 3147.28, Oct 2 low where a break would expose the key support handle at 3097.67, Sep 25 low. Clearance of this level would represent an important bearish break. The bull trigger is at 3269.87, Oct 12 high.

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