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(M4) Corrective Mode

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: 5019.60/5082.00 20-day EMA / High May 28
  • PRICE: 4994.00 @ 06:22 BST May 31
  • SUP 1: 4936.00 50.0% retracement of the Apr 19 - May 16 bull cycle
  • SUP 2: 4894.90 61.8% retracement of the Apr 19 - May 16 bull cycle
  • SUP 3: 4862.00 Low Apr 25
  • SUP 4: 4762.00 Low Apr 19 and a reversal trigger

Eurostoxx 50 futures have traded lower this week and the contract remains soft. This week’s pullback - a correction - has resulted in a breach of the 20- and 50-day EMAs. The 50-day average lies at 4964.40 and a clear break of it would undermine the recent short-term bullish theme and signal scope for a deeper retracement. This would open 4894.90, a Fibonacci retracement. Initial resistance is seen at 5019.60, the 20-day EMA.

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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