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(M2) Approaching The 50-Day EMA

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: 3873.40 50-day EMA
  • PRICE: 3864.00 @ 05:23 GMT Mar 23
  • 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 have traded higher and have moved out of its recent range. This reinforces current bullish condition and the contract is closing in on the 50-day EMA at 3873.40. This average represents an important resistance and if cleared, would further strengthen a bullish short-term theme. Support to watch lies at 3555.50 Mar 15 low. A break would highlight a possible reversal.

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