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(H2) Approaching The Nov High

EUROSTOXX50 TECHS
  • RES 4: 4400.00 Round number resistance
  • RES 3: 4392.50 High Nov 18
  • RES 2: 4355.56 3.0% 10-dma envelope
  • RES 1: 4347.00 Intraday high
  • PRICE: 4338.50 @ 08:53 GMT Jan 4
  • SUP 1: 4253.50 Low Dec 29
  • SUP 2: 4203.80 50-day EMA
  • SUP 2: 4149.00 Low Dec 22
  • SUP 4: 4108.50 Low Dec 21

EUROSTOXX 50 futures remain in an uptrend and continues to push higher. The recent break of resistance at 4270.00, the Dec 8 high strengthened bullish conditions and attention is on the key resistance at 4392.50, the Nov 18 high. Clearance of this hurdle would reinforce bullish conditions. On the downside, initial support to watch is at 4253.50, the Dec 29 low. The 50-day EMA at 4203.80 also represents a key support parameter.

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