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Still Correcting

EUROSTOXX50 TECHS
  • RES 4: 3451.16 High Jul 21 and the bull trigger
  • RES 3: 3402.19 High Jul 22
  • RES 2: 3377.44 High Aug 12
  • RES 1: 3333.64 High Aug 18
  • PRICE: 3259.75 @ Close Aug 21
  • SUP 1: 3221.42 Low Aug 21
  • SUP 2: 3220.05 Low Aug 7
  • SUP 3: 3174.32 Low Jul 31 and key support
  • SUP 4: 3149.67 Low Jun 25

EUROSTOXX 50, from a trend perspective, remains bullish despite last week's pullback and the recent rejection off 3377.44, Aug 12 high. The focus remains on resistance levels that lie ahead. Clearance of the Aug 12 high would open 3402.19, Jul 22 high and the bull trigger at 3451.16, Jul 21 high. Key support has been defined at 3174.32, Jul 31 low where a break would instead signal the start of a bearish cycle. Initial firm support is 3220.05.

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