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(M2) 50-Day EMA Remains Exposed

EUROSTOXX50 TECHS
  • RES 4: 4132.00 High Feb 10
  • RES 3: 4072.00 High Feb 16
  • RES 2: 3965.50 High Feb 23
  • RES 1: 3878.10 50-day EMA
  • PRICE: 3781.00 @ 05:49 GMT Mar 21
  • SUP 1: 3555.50 Low Mar 15 and a key near-term support
  • SUP 2: 3455.00 Low Mar 9
  • SUP 3: 3441.50 Low Mar 7 and the bear trigger
  • SUP 4: 3379.00 Low Dec 21 2020 (cont)

EUROSTOXX 50 futures traded higher last Wednesday and as a result breached the 20-day EMA. The contract is holding onto last week’s gains and the move higher sets the scene for a stronger correction. Attention is on the 50-day EMA at 3878.10. The average represents an important resistance and if cleared, would strengthen a bullish short-term theme. Support to watch lies at 3555.50 Mar 15 low. A break would highlight a possible reversal.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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