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(M4) Trend Needle Points North

EUROSTOXX50 TECHS
  • RES 4: 5127.70 1.382 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 3: 5074.70 1.236 proj of the Jan 17 - Feb 12 - 13 price swing
  • RES 2: 5000.00 Psychological round number
  • RES 1: 4988.00 High Mar 14
  • PRICE: 4945.00 @ 06:02 GMT Mar 20
  • SUP 1: 4876.40 20-day EMA
  • SUP 2: 4826.00 Low Mar 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 is trading at its recent highs. Moving average studies are in a bull-mode position and this continues to reflect positive market sentiment. Sights are on the psychological 5000.00 handle. Clearance of this level would strengthen the bullish condition. On the downside, initial firm support lies at 4876.40, the 20-day EMA.

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