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(H2) Approaching Key S/T Support

EUROSTOXX50 TECHS
  • RES 4: 4426.80 1.382 proj of the Nov 30 - Dec 8 - 20 price swing
  • RES 3: 4400.00 Round number resistance
  • RES 2: 4392.50 High Nov 18 and key resistance
  • RES 1: 4324.50/81.50 High Jan 13 / High Jan 5 and the bull trigger
  • PRICE: 4219.00 @ 05:29 GMT Jan 19
  • SUP 1: 4216.50 Low Jan 10 and key support
  • SUP 2: 4161.80 61.8% retracement of the Dec 20 - Jan 5 rally
  • SUP 2: 4109.90 76.4% retracement of the Dec 20 - Jan 5 rally
  • SUP 4: 4026.00 Low Dec 20

EUROSTOXX 50 futures remain under pressure this morning and the contract is approaching the key short-term support at 4216.50, Jan 10 low. Price is also back below the 50-day EMA. A break of 4216.50 would once again highlight a bearish threat and confirm a resumption of the bear cycle that started Jan 5. This would expose 4161.80, a Fibonacci retracement. On the upside, resistance to watch is at 4324.50, the Nov 18 high.

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