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(M2) Short-Term Bull Theme Intact

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: 3821.00 @ 06:00 BST Jun 3
  • SUP 1: 3720.30 20-day EMA
  • SUP 2: 3628.00 Low May 25
  • SUP 3: 3576.00/3466.00 Low May 19 / Low May 10 and bear trigger
  • SUP 4: 3458.90 76.4% retracement of the Mar 7 - 29 rally

EUROSTOXX 50 futures maintain a bullish short-term tone but continue to trade below Monday’s high. Price however remains above the 50-day EMA. Attention is on resistance at 3883.00, Apr 21 high and a key resistance at 3944.00, Mar 29 high. A break of the latter would strengthen current bullish conditions. Firm short-term support has been defined at 3576.00, May 19 low. A reversal lower would signal a resumption of the broader downtrend.

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