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(U1) Through to New Contract Highs

EUROSTOXX50 TECHS
  • RES 4: 4218.00 1.00 proj of the May 13 - Jun 17 - Jul 19 price swing
  • RES 3: 4198.51 2.0% Upper Bollinger Band
  • RES 2: 4189.80 2.0% 10-dma envelope
  • RES 1: 4179.50 High Aug 06
  • PRICE: 4171.50 @ 18:42 BST Aug 08
  • 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 continue to trade firmly, edging higher still to touch fresh contract highs. This follows the recent print above a key near-term 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 recovery. Attention shifts to the 4189.80 vol band resistance. Key support has been defined at 3895.00.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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