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(M2) Pulls Away From Recent Highs

EUROSTOXX OPTIONS
  • 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: 3857.00 High Jun 6 and key short-term resistance
  • PRICE: 3687.00 @ 05:42 BST Jun 10
  • SUP 1: 3628.00 Low May 25
  • SUP 2: 3576.00 Low May 19
  • SUP 3: 3466.00 Low May 10 and bear trigger
  • SUP 4: 3458.90 76.4% retracement of the Mar 7 - 29 rally

EUROSTOXX 50 futures have weakened and price is once again trading below the 50-day EMA, which intersects at 3744.50 today. The move lower threatens a recent bull theme, and an extension lower would open support at 3576.00, the May 19 low. The major support and bear trigger is still far-off at 3466.00, May 10 low. Key short-term resistance has been defined at 3857.00, Jun 6 high and represents a bull trigger.

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