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(M1) Needle Still Points North

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: 4074.00 High May 28
  • PRICE: 4057.00 @ 05:51 BST May 31
  • SUP 1: 3995.41 20-day EMA
  • SUP 2: 3918.63/3882.00 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 remain bullish following last week's breach of resistance at 4036.00, May 10 high. The break higher confirms 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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