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(M2) Clears Support

EUROSTOXX50 TECHS
  • RES 4: 4072.00 High Feb 16
  • RES 3: 3944.00 High Mar 29 and a key resistance
  • RES 2: 3775.00/3883.00 High Jun 5 / High Apr 21
  • RES 1: 3714.20 20-day EMA
  • PRICE: 3560.00 @ 05:45 BST May 9
  • SUP 1: 3544.00 Intraday low
  • SUP 2: 3523.00 Low Mar 11
  • SUP 3: 3458.90 76.4% retracement of the Mar 7 - 29 rally
  • SUP 4: 3400.00 Round number support

EUROSTOXX 50 futures remain in a bear mode. The contract has traded through fromer support at 3608.00, Apr 27 low to highlight a resumption of the current bear cycle. This sets the scene for an extension lower and opens 3523.00 next, the Mar 11 low and 3458.90, a Fibonacci retracement. On the upside, firm resistance has been defined at 3775.00, Jun 5 high. A break of this level would alter the picture.

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