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(M1) Recent Highs Remain Exposed

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: 4036.00 High May 10 and the bull trigger
  • PRICE: 4026.00 @ 05:51 BST May 24
  • SUP 1: 3891.38/3882.00 50-day EMA / Low May 19
  • 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 are trading just below the May 10 high. A bullish theme remains intact with key support defined at 3844.00, May 13 low. Recent tests of the 50-day EMA have failed to result in a clear break of the average and this reinforces bullish conditions. The EMA represents a key trend support and intersects at 3891.38. A breach of 4036.00, May 10 high would resume the uptrend. Sub 3844.00 levels would signal a top.

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