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(H2) Volatile And Bearish

EUROSTOXX50 TECHS
  • RES 4: 4381.50 High Jan 5 and the bull trigger
  • RES 3: 4324.50 High Jan 13
  • RES 2: 4113.30/4250.00 50-day EMA / High Feb 2
  • RES 1: 4049.50 High Feb 23
  • PRICE: 3839.0 @ 05:31 GMT Feb 28
  • SUP 1: 3749.50 Low Feb 24 and the bear trigger
  • SUP 2: 3727.00 Low Mar 25 2021 (cont)
  • SUP 3: 3709.60 1.382 proj of the Jan 5 - 24 - Feb 2 price swing
  • SUP 4: 3663.50 1.50 proj of the Jan 5 - 24 - Feb 2 price swing

EUROSTOXX 50 futures have started the week on a softer note opening sharply lower today from Friday’s close. Price action is likely to remain volatile, however, from a trend perspective the outlook appears bearish and support remains exposed. Attention is on 3749.50, the Feb 24 low where a break would confirm a resumption of weakness and this year’s downtrend. Initial firm resistance to watch is at 4049.50, Feb 23 high.

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