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(M2) Maintains A Firm Short-Term Tone

EUROSTOXX50 TECHS
  • RES 4: 3944.00 High Mar 29 and a key resistance
  • RES 3: 3888.00 High Apr 5
  • RES 2: 3883.00 High Apr 21
  • RES 1: 3850.00 High May 30
  • PRICE: 3832.00 @ Close of May 30
  • SUP 1: 3700.20 20-day EMA
  • SUP 2: 3576.00/3466.00 Low May 19 / Low May 10 and bear trigger
  • SUP 3: 3458.90 76.4% retracement of the Mar 7 - 29 rally
  • SUP 4: 3400.00 Round number support

EUROSTOXX 50 futures maintain a firmer short-term tone following recent gains and the break above the 50-day EMA. Gains are still considered corrective, however, attention is on resistance at 3883.00, Apr 21 high and, the key resistance at 3944.00, the Mar 29 high. A break of the latter would strengthen current bullish conditions. On the downside, a firm short-term support has been defined at 3576.00, May 19 low.

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