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(U1) Extends Streak of Higher Highs

EUROSTOXX50 TECHS
  • RES 4: 4636.70 76.4% 2000 - 2009 Range
  • RES 3: 4238.53 2.0% Upper Bollinger Band
  • RES 2: 4228.77 2.0% 10-dma envelope
  • RES 1: 4215.00 High Aug 11
  • PRICE: 4188.50 @ 17:26 BST Aug 10
  • SUP 1: 4029.50 Low Jul 22
  • SUP 2: 3944.00/3895.00 Low Jul 21 / Low Jul 19
  • SUP 3: 3871.00 Low Jul 21 / Low May 19
  • SUP 4: 3830.00 Low May 13 and a key support

EUROSTOXX 50 futures are extending gains, topping out at new cycle highs of 4215.00. This extends the winning streak to seven consecutive sessions of higher highs. This follows the break above previous resistance at 4101.50, Jul 1 high. The breach of this level places on hold the previously bearish outlook and instead signals scope for a stronger move higher. Attention shifts to the 4228.77 2.0% 10-dma envelope. Key support has been defined at 3895.00.

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