(H3) Clears The 50-Day EMA

• RES 4: 4132.60 76.4/% of the Nov ‘21 - Oct ‘22 bear leg (cont)
• RES 3: 4049.50 High Feb 23 (cont)
• RES 2: 4043.00 High Dec 13 and the bull trigger
• RES 1: 3896.10 20-day EMA
• PRICE: 3759.00 @ 05:47 GMT Dec 20
• SUP 1: 3720.00 Low Nov 10
• SUP 2: 3646.50 50% retracement of the Sep - Dec bull cycle
• SUP 3: 3580.00 Low Nov 3
• SUP 4: 3552.90 61.8% retracement of the Sep - Dec bull cycle

EUROSTOXX 50 futures are in a clear bear mode position and today’s move lower has reinforced this theme. The break lower has confirmed a breach of the 50-day EMA - at 3799.60. The break of this average signals scope for an extension lower near-term and this has opened 3720.00 next, the Nov 10 low. On the upside, initial firm resistance is seen at the 20-day EMA - it intersects at 3896.10.