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(H3) Overbought Condition Unwinds

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: 4206.00 High Jan 18
  • PRICE: 4121.00 @ 05:42 GMT Jan 20
  • SUP 1: 4043.00 High Dec 13
  • SUP 2: 4038.20/3923.30 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 traded lower Thursday. The broader trend outlook remains bullish, however, the cycle is overbought and this warns of the potential for a short-term pullback. A move lower would allow the overbought reading to unwind. A continuation lower would open 4038.20, the 20-day EMA and a key near-term support. On the upside, key short-term resistance and the bull trigger has been defined at 4206.00, the Jan 18 high.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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