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(U1) Fails To Challenge Resistance At 4101.50

  • 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
  • PRICE: 4046.50 @ 05:58 BST Jul 16
  • SUP 1: 3951.50 Low Jul 8
  • SUP 2: 3976.00 Low May 21
  • SUP 3: 3914.00 Low May 20
  • SUP 4: 3871.00 Low May 19

EUROSTOXX 50 futures remain above recent lows following the bounce from the 3951.50 low, Jul 8 low. The contract has failed to challenge initial resistance at 4101.50, Jul 1 high where a break would neutralise recent bearish price signals and signal scope for a stronger recovery towards 4121.00 initially. On the downside, a deeper pullback would expose 3951.50, Jul 8 low and the bear trigger.

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