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(H3) Bullish Outlook

EUROSTOXX50 TECHS
  • RES 4: 4269.50 2.236 proj of the Sep 29 - Oct 4 rise from Dec 20 low
  • RES 3: 4230.50 High Feb 10, 2022 (cont)
  • RES 2: 4215.00 2.00 proj of the Sep 29 - Oct 4 rise from Dec 20 low
  • RES 1: 4204.00 Intraday high
  • PRICE: 4158.00 @ 05:35 GMT Jan 19
  • SUP 1: 4043.00 High Dec 13
  • SUP 2: 4031.30/3915.80 20- and 50-day EMA values
  • SUP 3: 3753.00 Low Dec 20 and the bear trigger
  • SUP 4: 3720.00 Low Nov 10

EUROSTOXX 50 futures bullish conditions remain intact and the recent shallow pullback is considered corrective. Futures have recently cleared resistance at 4043.00, the Dec 13 high and a bull trigger. The break marks a key short-term positive development and paves the way for gains towards 4215.00 next, a Fibonacci projection. Moving average studies are in a bull-mode condition, reinforcing the bull theme. Initial firm support is 4015.70.

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