April 30, 2024 05:07 GMT
(M4) Holding On To The Bulk Of Its Recent Gains
EUROSTOXX50 TECHS
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- RES 4: 5127.70 1.382 proj of the Jan 17 - Feb 12 - 13 price swing
- RES 3: 5079.00 High Apr 2 and the bull trigger
- RES 2: 5043.00 High Apr 4
- RES 1: 5006.00 High Apr 30
- PRICE: 4957.00 @ 05:49 BST Apr 30
- SUP 1: 4877.40 50-day EMA
- SUP 2: 4762.00 Low Apr 19 and the bear trigger
- SUP 3: 4711.00 Low Feb 19
- SUP 4: 4700.00 Round number support
Eurostoxx 50 futures are holding on to their recent gains from 4762.00, the Apr 19 low. The contract has breached the 20-day EMA and resistance at 4990.00, the Apr 15 high. This continues to highlight a potentially stronger reversal and the end of the correction between Apr 2 - 19. An extension higher would expose the bull trigger at 5079.00, the Apr 2 high. Key support lies at 4762.00. Initial support to watch is 4877.40, the 50-day EMA.
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