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Needle Still Points North

  • RES 4: 4110.24 High Jan 18, 2008
  • RES 3: 4000.00 Psychological round number
  • RES 2: 3987.14 2.00 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 1: 3929.49 High Mar 30
  • PRICE: 3919.21 @ Close Mar 31
  • SUP 1: 3841.46 Low Mar 26
  • SUP 2: 3784.09 Low Mar 25 and key support
  • SUP 3: 3742.53 High Feb 15 and recent breakout level
  • SUP 4: 3733.06 50-day EMA

EUROSTOXX 50 traded higher Tuesday, registering a fresh trend high print of 3929.49. The outlook remains bullish and this week's gains confirm a resumption of the uptrend and extends the bullish price sequence of higher highs and higher lows. This signals scope for a climb to 3987.14 next, a Fibonacci projection. On the downside, key support has been defined at 3784.09, Mar 25 low. A break is required to signal a potential short-term top.

MNI London Bureau | +44 203-586-3805 |

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