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(M2) Eyeing 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: 3861.40/3866.00 50-day EMA / High Mar 23
  • PRICE: 3845.00 @ 05:39 GMT Mar 29
  • 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 continue to trade inside its current range and the recent consolidation still appears to be a bull flag - a continuation pattern that reinforces current bullish conditions. Attention remains on the 50-day EMA at 3861.40. This average represents an important resistance. If cleared, it would further strengthen a bullish short-term theme and open 3965.50. Support to watch is at 3555.50 Mar 15 low. A break would be a bearish development.

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