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(U1) Monitoring Key Support

  • 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: 4060.50 @ 05:49 BST Jul 8
  • SUP 1: 4024.20 50-day EMA
  • SUP 2: 4015.00 Low Jun 21 and bear trigger
  • SUP 3: 3914.00 Low May 20
  • SUP 4: 3871.00 Low May 19

EUROSTOXX 50 futures are stuck in a range. Attention is on key support at 4015.00, Jun 21 low. A key technical pattern on Jun 18 - a bearish engulfing candle - is still in play. This continues to warn of a short-term top in the trend. Clearance 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 frim resistance has been defined at 4121.00, Jun 25 high.

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