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(H3) Heading North

EUROSTOXX50 TECHS
  • RES 4: 4215.00 2.00 proj of the Sep 29 - Oct 4 rise from Dec 20 low
  • RES 3: 4175.50 High Feb 16 (cont)
  • RES 2: 4132.60 76.4/% of the Nov ‘21 - Oct ‘22 bear leg (cont)
  • RES 1: 4100.00 Round number resistance
  • PRICE: 4089.00 @ 05:52 GMT Jan 11
  • SUP 1: 3927.00/3850.90 20- and 50-day EMA values
  • SUP 2: 3753.00 Low Dec 20 and the bear trigger
  • SUP 3: 3697.00 Low Nov 10
  • SUP 4: 3580.00 Low Nov 3

EUROSTOXX 50 futures bullish conditions remain intact and the contract is trading at its recent highs. Futures have cleared resistance at 4043.00, the Dec 13 high and a bull trigger. The clear break represents a key short-term positive development and paves the way for gains to 4100.00 next. Moving average studies are in a bull-mode condition, reinforcing the current positive trend condition. Initial support lies at 3927.00, the 20-day EMA.

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