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(M2) Bearish Threat Still Present

EUROSTOXX50 TECHS
  • RES 4: 4132.00 High Feb 10
  • RES 3: 4072.00 High Feb 16
  • RES 2: 3944.00/3965.50 High Mar 29 / High Feb 23
  • RES 1: 3888.00 High Apr 5
  • PRICE: 3745.00 @ 05:34 BST Apr 11
  • SUP 1: 3701.40 38.2% retracement of the Mar 7 - 29 rally
  • SUP 2: 3626.50 50.0% retracement of the Mar 7 - 29 rally
  • SUP 3: 3551.60 61.8% retracement of the Mar 7 - 29 rally
  • SUP 4: 3523.00 Low Mar 11

EUROSTOXX 50 futures traded lower last week and in the process, price moved below the 20- and 50-day EMAs and breached support at 3735.00, the Mar 18 low. The move lower undermines the recent bull theme and highlights a developing bearish threat. An extension would open 3626.50, a Fibonacci retracement. On the upside, key short-term resistance has been defined at 3944.00, the Mar 29 high.

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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