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(M3) Broader Bull Cycle Still In Play

EUROSTOXX50 TECHS
  • RES 4: 4520.00 High June 2001 (cont)
  • RES 3: 4403.50 High Nov 18 2021 (cont) and a major resistance
  • RES 2: 4381.50 High Jan 5 2022 (cont)
  • RES 1: 4363.00 High Apr 21 and the bull trigger
  • PRICE: 4295.00 @ 06:36 BST Apr 27
  • SUP 1: 4282.10 20-day EMA
  • SUP 2: 4206.30 50-day EMA
  • SUP 3: 4175.00 Low Mar 30
  • SUP 4: 4164.00 High Mar 22

The Eurostoxx 50 futures contract has pulled back from recent highs. A key short-term support at 4282.10 remains intact - for now. This is the 20-day EMA where a break is required to signal a short-term top and highlight potential for a deeper pullback - towards 4206.30, the 50-day EMA. Trend conditions remain bullish and attention is on the bull trigger at 4363.00, Apr 21 high. A break would open 4381.50, Jan 5 2022 high (cont).

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