February 06, 2023 05:58 GMT
(H3) Trend Conditions Remains Bullish
EUROSTOXX50 TECHS
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- RES 4: 4335.50 Hgh Jan 6 2022 (cont)
- RES 3: 4324.50 High Jan 13 2022 (cont)
- RES 2: 4303.20 2.382 proj of the Sep 29 - Oct 4 rise from Dec 20 low
- RES 1: 4269.50 2.236 proj of the Sep 29 - Oct 4 rise from Dec 20 low
- PRICE: 4226.00 @ 05:42 GMT Feb 6
- SUP 1: 4139.50/4097.00 20-day EMA / Low Jan 19 and a key support
- SUP 2: 4016.10 50-day EMA
- SUP 3: 3890.00 Low Jan 4
- SUP 4: 3753.00 Low Dec 20 and the bear trigger
The EUROSTOXX 50 futures trend needle continues to point north. Resistance at 4206.00, the Jan 18 high, has been breached. The clear break confirms a resumption of the current uptrend and paves the way for gains towards 4269.50, a Fibonacci projection. Note that the trend remains overbought. A pullback, if seen, would represent a healthy correction. A break of 4097.00, the Jan 19 low, would signal the start of a short-term bear cycle.
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