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(M2) Key Support Remains Exposed

  • RES 4: 3888.00 High Apr 5
  • RES 3: 3883.00 High Apr 21
  • RES 2: 3857.00 High Jun 6 and key short-term resistance
  • RES 1: 35830.00/3701.50 High Jun 16 / 50-day EMA
  • PRICE: 3461.00 @ 05:47 BST Jun 17
  • SUP 1: 3401.00 Low Jun 16
  • SUP 2: 3400.00 Round number support
  • SUP 3: 3379.00 1.00 proj of the Mar 29 - May 10 - Jun 6 price swing
  • SUP 4: 3309.00 Low Mar 7 and major support

EUROSTOXX 50 futures gains are considered corrective and the primary trend direction remains down. The move lower this week has resulted in a breach of key support at 3466.00, the May 10 low. This reinforces bearish conditions and signals potential for weakness towards the next key support at 3309.00, the Mar 7 low and a bear trigger. On the upside, initial firm resistance is seen at 3701.50, the 50-day EMA.

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