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(M3) Broader Uptrend Remains Intact

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: 4324.00 @ 06:37 BST May 8
  • SUP 1: 4233.00 Low May 4
  • SUP 2: 4224.30 50-day EMA
  • SUP 3: 4175.00 Low Mar 30
  • SUP 4: 4164.00 High Mar 22

Eurostoxx 50 futures traded higher Friday and price has remained above support at 4224.30, the 50-day EMA. The recent move down is considered corrective and the broader uptrend remains intact. A continuation higher would signal scope for a test of 4363.00, the Apr 21 high and bull trigger. Clearance of this level would confirm a resumption of the uptrend. A clear break of the 50-day EMA is required to signal a top.

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