April 25, 2024 06:26 GMT
(M4) Short-Term Bull Cycle Remains In Play
EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
- 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: 5003.00 High Apr 24
- PRICE: 4942.00 @ 07:09 BST Apr 25
- SUP 1: 4868.30/4762.00 50-day EMA / Low Apr 19 and bear trigger
- SUP 2: 4711.00 Low Feb 19
- SUP 3: 4700.00 Round number support
- SUP 4: 4626.00 Low Feb 13
Eurostoxx 50 futures have traded higher this week, extending the recovery from 4762.00, Apr 19 low. The contract has breached the 20-day EMA and resistance at 4990.00, Apr 15 high. This highlights a potentially stronger reversal and signals the end of the correction between Apr 2 - 19. A continuation higher would expose the bull trigger at 5079.00, Apr 2 high. Key support lies at 4762.00. Initial support to watch is 4868.30, the 50-day EMA.
147 words