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(M1) Uptrend Remains Intact

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 26
  • PRICE: 4050.00 @ 05:49 BST May 25
  • SUP 1: 3977.95/3882.00 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 remain bullish and the contract has traded higher this week, breaching resistance at 4036.00, May 10 high. The breach of resistance 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 lies at 3882.00, May 19 low.

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