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(M3) Northbound

EUROSTOXX50 TECHS
  • RES 4: 4448.00 High Jan 2008 (cont)
  • RES 3: 4409.50 High Nov 18 2021 (cont) and a major resistance
  • RES 2: 4400.00 Round number resistance
  • RES 1: 4390.00 Intraday high
  • PRICE: 4382.00 @ 06:21 BST May 19
  • SUP 1: 4252.20 50-day EMA
  • SUP 2: 4233.00 Low May 4
  • SUP 3: 4175.00 Low Mar 30
  • SUP 4: 4164.00 High Mar 22

Eurostoxx 50 futures traded higher yesterday and cleared resistance at 4363.00, the Apr 21 high and the bull trigger. The break confirms a resumption of the bull cycle that started Mar 20 and confirms a continuation of the medium-term uptrend. This opens the 4400.00 handle ahead of 4409.50, the Nov 18 2021 high on the continuation chart and a key resistance. Key support has been defined at 4233.00, the May 4 low.

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