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(H3) Trading Below 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: 4227.00 @ 05:43 GMT Mar 10
  • SUP 1: 4216.00 Intraday low
  • SUP 2: 4175.00/4167.40 Low Feb 24 / 50-day EMA
  • SUP 3: 3955.00 Low Jan 5
  • SUP 4: 3753.00 Low Dec 20 and a key support

Eurostoxx 50 futures are trading lower today. Price has moved below a key support at 4249.30 - the base of a bull channel drawn from the Oct 13 low. A clear break of this channel base would threaten the uptrend that has been in place since late September last year. An initial downside objective would be 4167.40, the 50-day EMA. Key resistance has been defined at the 4328.00, the Mar 6 high and the bull trigger.

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