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(H2) Remains 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: 4176.50/4250.00 50-day EMA / High Feb 2
  • PRICE: 4083.50 @ 05:16 GMT Feb 21
  • SUP 1: 3996.00 Low Feb 15
  • 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 remain vulnerable despite managing to hold above the Jan 24 low of 3990.50. The 50-day EMA - at 4176.50 - still represents a key resistance where a clear break would suggest scope for a stronger bull reversal. This would open 4250.00, the Feb 2 high. Attention is on 3990.50. A break of this level would resume this year’s downtrend and signal scope for a deeper sell-off below the 4000.00 handle.

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