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(M2) Gains Considered Corrective

EUROSTOXX50 TECHS
  • RES 4: 3944.00 High Mar 29 and a key resistance
  • RES 3: 3883.00 High Apr 21
  • RES 2: 3775.00 High May 5
  • RES 1: 3664.80 20-day EMA
  • PRICE: 3631.00 @ 05:40 BST May 13
  • SUP 1: 3466.00 Low May 10
  • SUP 2: 3458.90 76.4% retracement of the Mar 7 - 29 rally
  • SUP 3: 3400.00 Round number support
  • SUP 4: 3309.00 Low Mar 7 and a major support

EUROSTOXX 50 futures remain in a bear mode and short-term gains are still considered corrective. The contract has recently cleared support at 3608.00, Apr 27 low, highlighting a resumption of the current bear cycle. This opens 3458.90, a Fibonacci retracement. A break of this level would clear the path for 3309.00, Mar 7 low and a major support. Firm resistance has been defined at 3775.00, May 5 high. A break would alter the picture.

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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