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(H4) Has Traded Through The 50-Day EMA

EUROSTOXX50 TECHS
  • RES 4: 4662.90 1.236 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4636.70 76.4% retracement of the 2000 - 2009 downleg (cont)
  • RES 2: 4599.00/4634.00 High Jan 2 / High Dec 14 and the bull trigger
  • RES 1: 4536.00 High Jan 11
  • PRICE: 4423.00 @ 06:10 GMT Jan 18
  • SUP 1: 4402.00 Low Jan 17
  • SUP 2: 4370.00 Low Nov 28
  • SUP 3: 4334.00 50.0% retracement of the Oct 27 - Dec 14 bull leg
  • SUP 4: 4220.00 Low Nov 10

Eurostoxx 50 futures have this week breached support at the Jan 5 low of 4444.0. The primary trend direction is up and the recent move lower is considered corrective. However, the break below 4444.00 and 4450.70, the 50-day EMA, suggests scope for an extension of the current bear cycle. This has opened 4370.00, the Nov 28 low. Initial resistance is 4536.00, the Jan 11 high. A break would highlight a potential reversal.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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