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(H3) Trading Just Ahead Of The Bull Trigger

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 and the bull trigger
  • PRICE: 4167.00 @ 05:24 GMT Jan 30
  • SUP 1: 4097.00/4094.60 Low Jan 19 / 20-day EMA
  • SUP 2: 3974.10 50-day EMA
  • SUP 3: 3753.00 Low Dec 20 and the bear trigger
  • SUP 4: 3720.00 Low Nov 10

EUROSTOXX 50 futures remain above support at 4097.00, Jan 19 low and the contract is trading just ahead of key short-term resistance at 4206.00, Jan 18 high. A break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 4215.00, a Fibonacci projection. Note that the trend remains overbought. A pullback, if seen, would represent a healthy bull trend correction. Support to watch is 4094.60, the 20-day EMA.

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