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(M3) Remains Below Last Week’s High

EUROSTOXX50 TECHS
  • RES 4: 4268.00 High Mar 6 and key resistance
  • RES 3: 4240.00 High Mar 9
  • RES 2: 4184.50 76.4% retracement of the Mar 6 - 20 bear leg
  • RES 1: 4164.00 High Mar 22 and a bull trigger
  • PRICE: 4129.00 @ 06:00 BST Mar 29
  • SUP 1: 4034.00 Low Mar 24
  • SUP 2: 4009.00/3914.00 61.8% of the Mar 20 - 22 rally / Low Mar 20
  • SUP 3: 3865.00 Low Jan 4
  • SUP 4: 3750.00 Low Dec 30

Eurostoxx 50 futures are consolidating. The contract remains below 4164.00, the Mar 22 high. The recent pullback threatens a bull theme and signals the end of what appears to have been a corrective bounce. A resumption of weakness would open 4009.50, 61.8% of the Mar 20 22 rally. A move below the 4000.00 handle would expose 3914.00, the Mar 21 low and a bear trigger. Key short-term resistance is 4164.00. A break of this level would be bullish.

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