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(H4) Northbound

EUROSTOXX50 TECHS
  • RES 4: 4844.00 2.00 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4800.00 Round number resistance
  • RES 2: 4788.1 1.764 projection of the Nov 8 - 24 - 28 price swing
  • RES 1: 4753.00/50 High Feb 09/1.618 projection of the Nov 8 - 24 - 28 price swing
  • PRICE: 4747.00 @ 08:21 GMT Feb 12
  • SUP 1: 4629.10 20-day EMA
  • SUP 2: 4543.40 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 again Friday delivering another fresh cycle high that confirms a resumption of the current uptrend. This reinforces bullish conditions and the 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 4753.50, a Fibonacci projection. Initial firm support lies at 4629.10, the 20-day EMA.

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