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(M3) Remains Above Wednesday’s Low

EUROSTOXX50 TECHS
  • RES 4: 4457.50 0.5 proj of the Mar 20 - Apr 21 - May 4 price swing
  • RES 3: 4448.00 High Jan 2008 (cont)
  • RES 2: 4409.50 High Nov 18 2021 (cont) and a major resistance
  • RES 1: 4301.40/4362.00 20-day EMA / High May 29
  • PRICE: 4286.00 @ 06:41 BST Jun 2
  • SUP 1: 4216.00 Low May 31
  • SUP 2: 4200.00 Round number support
  • SUP 3: 4175.00 Low Mar 30
  • SUP 4: 4164.00 High Mar 22

Eurostoxx 50 futures traded lower Wednesday and cleared the 50-day EMA and support at 4252.00, the May 25 low. Price has also pierced support at 4233.00, the May 4 low and a key short-term level. A clear break of 4233.00 would signal a potential reversal and highlight a stronger bearish theme. This would open the 4200.00 handle. Price has recovered from this week’s low. Gains appear corrective, initial firm resistance is 4362.00, May 29 high.

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