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Holding Above Recent Lows

EUROSTOXX50 TECHS
  • RES 4: 3326.79 High Sep 18
  • RES 3: 3258.97 50-day EMA
  • RES 2: 3239.28 20-day EMA
  • RES 1: 3227.43 High Sep 28
  • PRICE: 3193.67 @ Close Sep 30
  • SUP 1: 3144.52 Low Sep 28
  • SUP 2: 3097.67 Low Sep 25 and the bear trigger
  • SUP 3: 3054.11 Low Jun 15
  • SUP 4: 3012.50 38.2% retracement of the Mar - Jul rally

EUROSTOXX 50 focus is on Tuesday's rally that signals a possible early indication of a base at the Sep 25 low of 3097.67. This level represents a key support and continued gains would expose a firm resistance zone at 3239.28 to 3258.97, the 20- and 50-day EMA levels respectively. A clear breach of this area would signal scope for further gains. On the downside, weakness through 3097.67, Sep 25 low, resumes the downtrend.

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