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Fresh Trend High

  • RES 4: 3867.28 High Feb 20, 2020
  • RES 3: 3798.19 0.764 proj of Mar - Jul - Oct 2020 swing
  • RES 2: 3730.45 1.00 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 1: 3700.00 Round number resistance
  • PRICE: 3695.61 @ Close Feb 12
  • SUP 1: 3628.47 Low Feb 10
  • SUP 2: 3563.49 50-day EMA
  • SUP 3: 3473.76 Low Jan 28 and the bear trigger
  • SUP 4: 3455.94 Low Dec 22

EUROSTOXX 50 remains bullish with a fresh trend high registered Friday to confirm a resumption of the underlying uptrend. The focus is on 3700.00 and 3798.19 further out, a Fibonacci projection. Moving average studies remain in a bull mode reinforcing underlying conditions. On the downside, the index needs to clear support at 3473.76 to reinstate a bearish theme, the Jan 28 low. Initial support lies at 3628.47, Feb 10 low.

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