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(U1) Attention Is On The Bear Trigger

EUROSTOXX50 TECHS
  • RES 4: 4175.00 Nov 26, 2008 low (cont)
  • RES 3: 4153.00 High Jun 17 and bull trigger
  • RES 2: 4121.00 High Jun 25
  • RES 1: 4101.50 High Jul 1 and key near-term resistance
  • PRICE: 3992.00 @ 06:01 BST Jul 19
  • SUP 1: 3951.50 Low Jul 8 and the bear trigger
  • SUP 2: 3914.00 Low May 20
  • SUP 3: 3871.00 Low May 19
  • SUP 4: 3830.00 Low May 13 and a key support

EUROSTOXX 50 futures are starting the week on a softer note as price edges lower. The contract last week failed to challenge initial resistance at 4101.50, Jul 1 high where a break would neutralise recent bearish price signals and highlight scope for a stronger recovery towards 4121.00 initially. Attention is on support at 3951.50, Jul 8 low and the bear trigger. A break would set the scene for a deeper pullback towards 3914.00, May 20 low.

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