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EUROSTOXX50 TECHS: (H5) Resumes Its Uptrend

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5200.00 Round number resistance 
  • RES 3: 5162.00 High Nov 2000 (cont)        
  • RES 2: 5142.00 1.000 proj of the Nov 21 - Dec 9 - 20 price swing  
  • RES 1: 5131.00 High Jan 16          
  • PRICE: 5117.00 @ 06:42 GMT Jan 17  
  • SUP 1: 5040.00 High Dec 9 and a recent breakout point         
  • SUP 2: 4986.09/4931.00 20-day EMA / Low Jan 13    
  • SUP 3: 4829.00 Low Dec 20 and key short-term support
  • SUP 4: 4775.00 Low Nov 29 

A bull cycle in the Eurostoxx 50 futures contract remains intact. This week’s climb resulted in a breach of 5054.00, the Jan 8 high, to confirm a resumption of the uptrend. The contract is holding on to its recent gains. The focus is on a climb towards 5142.00, a Fibonacci projection point. Key short-term support has been defined at 4931.00, the Jan 13 low. A break of this level would be bearish. 

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  • RES 4: 5200.00 Round number resistance 
  • RES 3: 5162.00 High Nov 2000 (cont)        
  • RES 2: 5142.00 1.000 proj of the Nov 21 - Dec 9 - 20 price swing  
  • RES 1: 5131.00 High Jan 16          
  • PRICE: 5117.00 @ 06:42 GMT Jan 17  
  • SUP 1: 5040.00 High Dec 9 and a recent breakout point         
  • SUP 2: 4986.09/4931.00 20-day EMA / Low Jan 13    
  • SUP 3: 4829.00 Low Dec 20 and key short-term support
  • SUP 4: 4775.00 Low Nov 29 

A bull cycle in the Eurostoxx 50 futures contract remains intact. This week’s climb resulted in a breach of 5054.00, the Jan 8 high, to confirm a resumption of the uptrend. The contract is holding on to its recent gains. The focus is on a climb towards 5142.00, a Fibonacci projection point. Key short-term support has been defined at 4931.00, the Jan 13 low. A break of this level would be bearish.