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(H4) Fresh Cycle High

EUROSTOXX50 TECHS
  • RES 4: 4788.1 1.764 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4753.50 1.618 projection of the Nov 8 - 24 - 28 price swing
  • RES 2: 4725.50 1.50 projection of the Nov 8 - 24 - 28 price swing
  • RES 1: 4721.00 High Feb 7
  • PRICE: 4699.00 @ 05:58 GMT Feb 8
  • SUP 1: 4607.40 20-day EMA
  • SUP 2: 4528.10 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 traded higher yesterday and again delivered fresh cycle highs, confirming a resumption of the current uptrend. This reinforces the bullish importance of the recent break of a key resistance at the Dec 14 high of 4634.00. The clear breach of the 4700.00 handle paves the way for a climb towards 4725.50, a Fibonacci projection. Initial firm support lies at 4607.40, the 20-day EMA.

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