(H3) Corrective Cycle Remains In Play

• 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: 3864.00/3908.00 20-day EMA / Low Dec 9
• PRICE: 3836.00 @ 06:51 GMT Dec 30
• SUP 1: 3753.00 Low Dec 20 and the bear trigger
• 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 remain above their recent lows. The contract has recently tested resistance at the 20-day EMA which intersects at 3864.00 and marks a key short-term resistance. A clear breach of this hurdle would suggest potential for a stronger recovery. Gains are considered corrective - for now. A resumption of weakness and a break of 3753.00, the Dec 20 low, would resume the recent downtrend. The bull trigger is 4043.00, Dec 13 high.