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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: 5027.00 High Dec 13      
  • RES 2: 5002.00 High Dec 18 
  • RES 1: 4939.00 High Dec 19         
  • PRICE: 4881.00 @ Close Dec 30  
  • SUP 1: 4829.00 Low Dec 20 and key short-term support       
  • SUP 2: 4800.87 76.4% retracement of the Nov 21 - Dec 9 bull cycle      
  • SUP 3: 4775.00 Low Nov 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. Despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00, the Dec 20 low. A break of it would confirm a resumption of the bear cycle and open 4800.87, a Fibonacci retracement. Initial resistance is at 4939.00, the Dec 19 high.

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  • RES 4: 5040.00 High Dec 9 and a key short-term resistance 
  • RES 3: 5027.00 High Dec 13      
  • RES 2: 5002.00 High Dec 18 
  • RES 1: 4939.00 High Dec 19         
  • PRICE: 4881.00 @ Close Dec 30  
  • SUP 1: 4829.00 Low Dec 20 and key short-term support       
  • SUP 2: 4800.87 76.4% retracement of the Nov 21 - Dec 9 bull cycle      
  • SUP 3: 4775.00 Low Nov 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. Despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00, the Dec 20 low. A break of it would confirm a resumption of the bear cycle and open 4800.87, a Fibonacci retracement. Initial resistance is at 4939.00, the Dec 19 high.