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(M1) Bulls Still In Charge

EUROSTOXX50 TECHS
  • RES 4: 4175.00 Low Nov 26, 2007 (cont)
  • RES 3: 4140.00 High Jan 18, 2008 (cont)
  • RES 2: 4099.00 1.00 proj of of the Mar - Jul - Oct 2020 price swing
  • RES 1: 4059.00 High May 25 and the bull trigger
  • PRICE: 4051.00 @ 05:45 BST May 28
  • SUP 1: 3987.98 20-day EMA
  • SUP 2: 3912.76/3882.00 50-day EMA / Low May 19
  • SUP 3: 3844.00 Low May 13 and the bear trigger
  • SUP 4: 3821.00 High Mar 18 and recent breakout level

EUROSTOXX 50 futures are consolidating but remain bullish following this week's breach of resistance at 4036.00, May 10 high. The break higher confirmed a resumption of the uptrend and opens 4099.00, a Fibonacci projection. The climb also maintains the bullish price sequence of higher highs and higher lows, reinforcing the current trend condition. On the downside, firm support is unchanged at 3882.00, May 19 low.

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