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(H4) Bullish Condition Remains Intact

EUROSTOXX50 TECHS
  • RES 4: 4753.50 1.618 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4725.50 1.50 projection of the Nov 8 - 24 - 28 price swing
  • RES 2: 4700.00 Round number resistance
  • RES 1: 4697.00 High Feb 2 and the bull trigger
  • PRICE: 4686.00 @ 06:04 GMT Feb 6
  • SUP 1: 4599.00/4586.80 High Jan 2 / 20-day EMA
  • SUP 2: 4513.70 50-day EMA
  • SUP 3: 4402.00 Low Jan 17 and key short-term support
  • SUP 4: 4370.00 Low Nov 28

Eurostoxx 50 futures remain firm and the contract is trading at its recent highs. Key resistance at the Dec 14 high of 4634.00 has recently been cleared. The break confirmed a resumption of the medium-term uptrend and sights are on the 4700.00 handle next. Initial firm support lies at 4586.80, the 20-day EMA. Key trend support has been defined at 4402.00, the Jan 17 low. A short-term pullback would be considered corrective.

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