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(H2) Appears Vulnerable

EUROSTOXX50 TECHS
  • RES 4: 4392.50 High Nov 18 and key resistance
  • RES 3: 4381.50 High Jan 5 and the bull trigger
  • RES 2: 4324.50 High Jan 13
  • RES 1: 4194.20/4250.00 50-day EMA / High Feb 2
  • PRICE: 4082.00 @ 05:42 GMT Feb 14
  • SUP 1: 4056.00 Low Feb 4
  • SUP 2: 3990.50 Low Jan 24 and key support
  • SUP 3: 3980.00 Low Nov 30 2021
  • SUP 4: 3935.00 Low Oct 6 2021

EUROSTOXX 50 futures appear vulnerable. The contract last week failed to hold above the 50-day EMA - at 4194.20 today. The average still represents a key resistance point where a clear break would suggest scope for a stronger recovery and open 4324.50, Jan 13 high. The shift lower however is a bearish development and an extension would refocus attention on 3990.50, the Jan 24 low and bear trigger.

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