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(H3) Remains Below Former Bull Channel Support

EUROSTOXX50 TECHS
  • RES 4: 4446.00 3.00 proj of the Sep 29 - Oct 4 rally from Dec 20 low
  • RES 3: 4409.50 High Nov 18 2021 and a major resistance
  • RES 2: 4381.50 High Jan 5 2022 (cont)
  • RES 1: 4328.00 High Mar 6 and the bull trigger
  • PRICE: 4229.00 @ 05:42 GMT Mar 13
  • SUP 1: 4169.30 50-day EMA
  • SUP 2: 4097.00 Low Jan 19
  • SUP 3: 4000.00 Round number support
  • SUP 4: 3955.00 Low Jan 5

Eurostoxx 50 futures traded lower Friday. Price has moved below a key support at 4258.60 - the base of a bull channel drawn from the Oct 13 low. A continuation lower would threaten the uptrend that has been in place since late September last year. An initial downside objective would be 4169.30, the 50-day EMA. Key resistance has been defined at the 4328.00, the Mar 6 high and is the bull trigger.

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