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(U1) Key Support Remains Exposed

EUROSTOXX50 TECHS
  • RES 4: 4265.00 High Jan 15, 2008
  • RES 3: 4175.00 Nov 26, 2008 low (cont)
  • RES 2: 4153.00 High Jun 17 and bull trigger
  • RES 1: 4121.00 High Jun 25
  • PRICE: 4078.00 @ 05:43 BST Jul 6
  • SUP 1: 4033.50 Low Jun 30
  • SUP 2: 4022.10/4015.00 50-day EMA / Low Jun 21 and bear trigger
  • SUP 3: 3914.00 Low May 20
  • SUP 4: 3871.00 Low May 19

EUROSTOXX 50 futures continue to consolidate. The contract traded lower Jun 30 exposing key support at 4015.00, Jun 21 low. Furthermore, a key technical pattern on Jun 18 - a bearish engulfing candle - continues to warn of a short-term top in the trend. A break of 4015.00 would reinforce the engulfing line and signal scope for a deeper pullback opening, 4000.00 and 3914.00, May 20 low. Initial resistance is at 4121.00, Jun 25 high.

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