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(M4) Breaches Short-Term Support

EUROSTOXX50 TECHS
  • RES 4: 5162.00 High Nov 2000
  • RES 3: 5127.70 1.382 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 2: 5110.00 High May 16 and the bull trigger
  • RES 1: 5046.00/5088.00 High Jun 12 / 6
  • PRICE: 4952.00 @ 06:35 BST Jun 14
  • SUP 1: 4927.00 Low Jun 13
  • SUP 2: 4894.90 61.8% retracement of the Apr 19 - May 16 bull cycle
  • SUP 3: 4862.00 Low Apr 25
  • SUP 4: 4844.10 76.4% retracement of the Apr 19 - May 16 bull cycle

The trend condition in Eurostoxx 50 futures remains bullish and the recent pullback is considered corrective. Yesterday’s sell-off resulted in a break of support at 4943.00, the Jun 11 low. This highlights potential for a deeper short-term retracement and sights are on 4894.90, a Fibonacci retracement. Initial resistance is seen at 5046.00, the Jun 12 high. A break of this hurdle would signal a resumption of the uptrend.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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