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(M4) Corrective Pullback Extends

EUROSTOXX50 TECHS
  • RES 4: 5170.50 1.50 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 3: 5127.70 1.382 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 2: 5100.00 Round number resistance
  • RES 1: 5008.00/5079.00 High Apr 8 / 2 and the bull trigger
  • PRICE: 4951.00 @ 06:14 BST Apr 11
  • SUP 1: 4901.00 Low Apr 10
  • SUP 2: 4848.70 50-day EMA
  • SUP 3: 4826.00 Low Mar 5
  • SUP 4: 4800.00 Round number support

The primary uptrend in Eurostoxx 50 futures remains intact and recent weakness is considered corrective. The move down is allowing an overbought condition to unwind. The break of support around the 20-day EMA suggests potential for a deeper retracement. The next support lies at 4848.70, the 50-day EMA. Key resistance and the bull trigger has been defined at 5079.00, Apr 2 high.

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