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(M4) Pierces Support At The 50-Day EMA

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: 5047.00/5082.00 High Jun 3 / High May 28
  • PRICE: 4988.00 @ 06:30 BST Jun 5
  • SUP 1: 4947.00 Low Jun 4
  • SUP 2: 4936.00 50.0% retracement of the Apr 19 - May 16 bull cycle
  • SUP 3: 4894.90 61.8% retracement of the Apr 19 - May 16 bull cycle
  • SUP 4: 4862.00 Low Apr 25

Eurostoxx 50 futures traded lower Tuesday, extending the current bear cycle. The recent move down appears to be a correction, but note that support at the 50-day EMA, at 4966.80, has been pierced. A clear break of the average would undermine the short-term bullish theme and signal scope for a deeper retracement, towards 4894.90, a Fibonacci retracement. Initial resistance is seen at 5047.00, the Jun 3 high.

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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