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(H2) Eyeing The Nov High

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
  • RES 1: 4375.50 High Jan 4
  • PRICE: 4341.50 @ 05:51 GMT Jan 5
  • SUP 1: 4253.50 Low Dec 29
  • SUP 2: 4209.40 50-day EMA
  • SUP 2: 4149.00 Low Dec 22
  • SUP 4: 4108.50 Low Dec 21

EUROSTOXX 50 futures remain in an uptrend, trading higher again yesterday. The recent break of resistance at 4270.00, Dec 8 high, has strengthened bullish conditions and attention is on the key resistance at 4392.50, 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 4209.40 also represents a key support area.

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