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(M3) Trading 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: 4109.00 @ 06:28 GMT Mar 27
  • 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 remain below last week’s high of 4164.00 on Mar 22 high. The pullback threatens the recent bull theme and signals the possible end of what appears to have been a corrective bounce. A continuation lower 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 bear trigger. Key short-term resistance is 4164.00, the Mar 22 high. A break would be bullish.

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