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(M2) MA Studies Remain In Bear Mode

EUROSTOXX50 TECHS
  • RES 4: 4132.00 High Feb 10
  • RES 3: 4072.00 High Feb 16
  • RES 2: 3944.00 High Mar 29and a key resistance
  • RES 1: 3888.00 High Apr 5
  • PRICE: 3829.00 @ 05:40 BST Apr 21
  • SUP 1: 3684.00 Low Apr 12 and the bear trigger
  • 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 higher Wednesday and pushed through initial resistance levels around 3795/97. short-term gains are considered corrective and the near-term risk still appears bearish following the recent pullback from 3944.00, Mar 29 high. Moving average studies are positioned in a bear mode highlighting a likely bearish trend direction. Weakness though 3684.00 would resume the downtrend. Resistance is at 3888.00, Apr 5 high.

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