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(M3) Resistance Remains Intact

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: 4362.00 High May 29
  • PRICE: 4293.00 @ 06:38 BST Jun 6
  • SUP 1: 4216.00 Low May 31 and the bear trigger
  • 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 higher Friday as the contract recovered from last Wednesday’s low of 4216.00. For now, the move higher appears to be a correction. Price action earlier last week reinforced a bearish theme - support at 4252.00, the May 25 low has been breached. Price has also pierced support at 4233.00, the May 4 low and a key short-term level. Resistance to watch is 4362.00, May 29 high, a break would be bullish.

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