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(M1) Eyeing Key Resistance

  • 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: 4036.00 High May 10 and the bull trigger
  • PRICE: 4027.00 @ 05:45 BST May 18
  • SUP 1: 3953.92 20-day EMA
  • SUP 2: 3844.00 Low May 13 and the bear trigger
  • SUP 3: 3821.00 High Mar 18 and recent breakout level
  • SUP 4: 3727.00 Low Mar 25

EUROSTOXX 50 futures remain bullish. The contract staged a solid recovery last week and has defined a key support at 3844.00, May 13 low. A test of the 50-day EMA last week failed to result in a clear break of the average. The EMA represents a key trend support reference and intersects at 3875.11. Attention is on 4036.00, May 10 high where a break would confirm a resumption of the uptrend. Sub 3844.00 levels are required to signal a top.

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