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(H3) Bull Channel Support Intact - For Now

EUROSTOXX50 TECHS
  • RES 4: 4446.00 3.00 proj of the Sep 29 - Oct 4 rally from Dec 20 low
  • RES 3: 4409.50 High Nov 18 2021 and a major resistance
  • RES 2: 4381.50 High Jan 5 2022 (cont)
  • RES 1: 4323.00 High Feb 16 and the bull trigger
  • PRICE: 4214.00 @ 05:46 GMT Mar 2
  • SUP 1: 4193.20 Bull channel base drawn from the Oct 13 low
  • SUP 2: 4134.80 50-day EMA
  • SUP 3: 3955.00 Low Jan 5
  • SUP 4: 3753.00 Low Dec 20 and a key support

Eurostoxx 50 futures remain above last Friday’s low of 4175.00. Key support to watch is 4193.20, the base of a bull channel drawn from the Oct 13 low. While channel support holds, the broader uptrend remains intact and a continuation higher near-term would expose the bull trigger at 4323.00, Feb 16 high. A break of this hurdle would resume the broader uptrend. On the downside, a breach of the channel base would alter the picture.

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