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EUROSTOXX50 TECHS: (H5) Corrective Cycle Remains In Play

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5040.00 High Dec 9 and a key short-term resistance 
  • RES 3: 5027 High Dec 13      
  • RES 2: 5002.00 High Dec 18 
  • RES 1: 4929.26 20-day EMA         
  • PRICE: 4872.00 @ Close Dec 23  
  • SUP 1: 4829.00 Low Dec 20       
  • SUP 2: 4800.87 76.4% retracement of the Nov 21 - Dec 9 bull cycle      
  • SUP 3: 4775.00 Low Nvv 29  
  • SUP 4: 4727.00 Low Nov 21 and a key support  

A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the recent move down highlights a corrective phase and a short-term bear threat remains present - for now. Price has traded through the 50-day EMA, at 4920.51. The Dec 20 initial sell-off resulted in a print below 4846.57, 61.8% of the Nov 21 - Dec 9 bull cycle. This opens 4800.87, the 76.4% retracement. Initial resistance is at 4929.26, the 20-day EMA.

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  • RES 4: 5040.00 High Dec 9 and a key short-term resistance 
  • RES 3: 5027 High Dec 13      
  • RES 2: 5002.00 High Dec 18 
  • RES 1: 4929.26 20-day EMA         
  • PRICE: 4872.00 @ Close Dec 23  
  • SUP 1: 4829.00 Low Dec 20       
  • SUP 2: 4800.87 76.4% retracement of the Nov 21 - Dec 9 bull cycle      
  • SUP 3: 4775.00 Low Nvv 29  
  • SUP 4: 4727.00 Low Nov 21 and a key support  

A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the recent move down highlights a corrective phase and a short-term bear threat remains present - for now. Price has traded through the 50-day EMA, at 4920.51. The Dec 20 initial sell-off resulted in a print below 4846.57, 61.8% of the Nov 21 - Dec 9 bull cycle. This opens 4800.87, the 76.4% retracement. Initial resistance is at 4929.26, the 20-day EMA.