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(M3) Northbound

EUROSTOXX50 TECHS
  • RES 4: 4510.50 0.618 proj of the Mar 20 - Apr 21 - May 4 price swing
  • RES 3: 4457.50 0.5 proj of the Mar 20 - Apr 21 - May 4 price swing
  • RES 2: 4448.00 High Jan 2008 (cont)
  • RES 1: 4409.50 High Nov 18 2021 (cont) and a major resistance
  • PRICE: 4397.00 @ 06:31 BST May 22
  • SUP 1: 4313.70/4257.800 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 again Friday and the contract remains just below its recent highs. Price has cleared resistance at 4363.00, the Apr 21 high and a bull trigger. The break confirms a resumption of the bull cycle from Mar 20 and a continuation of the medium-term uptrend. This opens 4409.50, the Nov 18 2021 high on the continuation chart and a key resistance. Firm support is at 4257.80, the 50-day EMA.

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