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(M4) Northbound

EUROSTOXX50 TECHS
  • RES 4: 5127.70 1.382 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 3: 5100.00 Round number resistance
  • RES 2: 5074.70 1.236 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 1: 5060.00 Intraday high
  • PRICE: 5055.00 @ 06:17 GMT Mar 28
  • SUP 1: 4936.90 20-day EMA
  • SUP 2: 4872.00/4826.00 Low Mar 11 / 5
  • SUP 3: 4771.00 Low Feb 22
  • SUP 4: 4711.00 Low Feb 19

A bullish trend condition in Eurostoxx 50 futures remains intact and the contract has traded to fresh cycle highs this week. The climb once again confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode position, highlighting positive market sentiment. Sights are on 5074.7, a Fibonacci projection. Initial firm support is at 4936.90, the 20-day EMA.

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