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(M2) Trend Needle Points North

EUROSTOXX50 TECHS
  • RES 4: 4189.00 Hi Feb 1
  • RES 3: 4132.00 High Feb 10
  • RES 2: 4072.00 High Feb 16
  • RES 1: 3965.50 High Feb 23
  • PRICE: 3881.00 @ 05:38 GMT Mar 31
  • SUP 1: 3735.00/555.50 Low Mar 18 / Low Mar 15
  • SUP 2: 3455.00 Low Mar 9
  • SUP 3: 3441.50 Low Mar 7 and the bear trigger
  • SUP 4: 3379.00 Low Dec 21 2020 (cont)

EUROSTOXX 50 futures remain bullish having traded higher Tuesday. The contract has cleared resistance at the 50-day EMA - today at 3863.50. This average represented an important resistance and the break higher confirms a resumption of the bull cycle that started Mar 7. Also, the move higher confirmed a bull flag breakout on the daily chart. The focus is on 3965.50 next, the Feb 23 high. Initial support lies at 3735.00, Mar 18 low.

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