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Reverses Course

EUROSTOXX50 TECHS
  • RES 4: 3326.79 High Sep 18
  • RES 3: 3305.77 High Oct 12 and key near-term resistance
  • RES 2: 3269.87 High Oct 15
  • RES 1: 3243.29 20-day EMA
  • PRICE: 3192.69 @ Close Oct 15
  • SUP 1: 3147.28 Low Oct 2 and key support
  • SUP 2: 3097.67 Low Sep 25 and the bear trigger
  • SUP 3: 3054.11 Low June 15
  • SUP 4: 3012.50 38.2% retracement of the Mar - Jul uptrend

EUROSTOXX 50 suffered a sharp setback yesterday accelerating lower and extending the recent pullback from 3305.77, Oct 12 high.The move lower reverses the recent recovery that started on Sep 25. Attention turns to support at 3147.28, Oct 2 low where a break would expose the key support handle at 3097.67, Sep 25 low. Clearance of this level would represent an important bearish break. Firm resistance is at 3269.87, yesterday's high.

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