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(M2) Approaching Key Support

EUROSTOXX50 TECHS
  • RES 4: 3888.00 High Apr 5
  • RES 3: 3883.00 High Apr 21
  • RES 2: 3857.00 High Jun 6 and key short-term resistance
  • RES 1: 3729.50 50-day EMA
  • PRICE: 3530.00 @ 05:54 BST Jun 14
  • SUP 1: 3492.00 Low Jun 13
  • SUP 2: 3466.00 Low May 10 and bear trigger
  • SUP 3: 3458.90 76.4% retracement of the Mar 7 - 29 rally
  • SUP 4: 3309.00 Low Mar 7 and major support

EUROSTOXX 50 futures traded lower again yesterday as the contract extends the reversal from recent highs. The move lower last week and Monday, threatens the recent bull theme. The pace of the sell-off signals potential for weakness towards key support and the bear trigger at 3466.00, May 10 low. Key short-term resistance has been defined at 3857.00, Jun 6 high. Initial resistance is seen at 3729.50, the 50-day EMA.

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