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EUROSTOXX50 TECHS: (H5) Trend Needle Points North

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5335.43 1.618 proj of the Nov 21 - Dec 9 - 20 price swing
  • RES 3: 5327.90 1.764 proj of the Dec 20 - Jan 8 - 13 price swing      
  • RES 2: 5298.50 1.500 proj of the Nov 21 - Dec 9 - 20 price swing
  • RES 1: 5276.00 High Jan 24          
  • PRICE: 5257.00 @ 06:28 GMT Jan 28  
  • SUP 1: 5144.00 Low Jan 27           
  • SUP 2: 5108.69 20-day EMA    
  • SUP 3: 5021.12 50-day EMA
  • SUP 4: 4931.00 Low Jan 13 and a key short-term support  

A bull cycle in the Eurostoxx 50 futures contract remains intact and the move lower from last Friday’s high, appears to have been a correction. A deeper retracement would allow an overbought trend condition to unwind. Moving average studies are in a bull-mode set-up highlighting a dominant uptrend. The first important support to watch is 5108.69, the 20-day EMA. A resumption of the uptrend would open 5298.50, a Fibonacci projection.

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  • RES 4: 5335.43 1.618 proj of the Nov 21 - Dec 9 - 20 price swing
  • RES 3: 5327.90 1.764 proj of the Dec 20 - Jan 8 - 13 price swing      
  • RES 2: 5298.50 1.500 proj of the Nov 21 - Dec 9 - 20 price swing
  • RES 1: 5276.00 High Jan 24          
  • PRICE: 5257.00 @ 06:28 GMT Jan 28  
  • SUP 1: 5144.00 Low Jan 27           
  • SUP 2: 5108.69 20-day EMA    
  • SUP 3: 5021.12 50-day EMA
  • SUP 4: 4931.00 Low Jan 13 and a key short-term support  

A bull cycle in the Eurostoxx 50 futures contract remains intact and the move lower from last Friday’s high, appears to have been a correction. A deeper retracement would allow an overbought trend condition to unwind. Moving average studies are in a bull-mode set-up highlighting a dominant uptrend. The first important support to watch is 5108.69, the 20-day EMA. A resumption of the uptrend would open 5298.50, a Fibonacci projection.