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(M1) Still Heading North

EUROSTOXX50 TECHS
  • RES 4: 4290.00 High Jan 14, 2008
  • RES 3: 4265.00 High Jan 15, 2008
  • RES 2: 4230.19 Bull channel top drawn off the Feb 26 low
  • RES 1: 4175.00 Low Nov 26, 2007 (cont)
  • PRICE: 4155.00 @ 05:45 BST Jun 15
  • SUP 1: 4065.36/4016.00 20-day EMA / Low May 27
  • SUP 2: 3981.78/70.06 50-day EMA / Channel base from Feb 26 low
  • SUP 3: 3882.00 Low May 19
  • SUP 4: 3844.00 Low May 13 and the bear trigger

EUROSTOXX 50 futures is trading higher once again as the contract extends gains and maintains a bullish price sequence of higher highs and higher lows. Furthermore, moving average studies also remain in bull mode, reinforcing current trend conditions. The focus is on 4175.00 next, Nov 26 2008 low. On the downside, firm trend support is unchanged at 3882.00, May 19 low. Initial support lies at 4065.36, the 20-day EMA.

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