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(U2) Approaching The Bear Trigger

EUROSTOXX50 TECHS
  • RES 4: 3774.00 High Jun 9
  • RES 3: 3689.00 High Jun 10
  • RES 2: 3618.10 50-day EMA
  • RES 1: 3584.00 High Jun 27
  • PRICE: 3416.00 @ 05:43 BST Jul 1
  • SUP 1: 3384.00 Low Jun 16 and the bear trigger
  • SUP 2: 3300.00 Round number support
  • SUP 3: 3241.70 1.382 proj of the Mar 29 - May 10 - Jun 6 price swing
  • SUP 4: 3189.10 1.50 proj of the Mar 29 - May 10 - Jun 6 price swing

EUROSTOXX 50 futures remain soft as the contract extends its reversal from Monday’s high of 3584.00. The move lower exposes the key support and bear trigger at 3384.00, Jun 16 low. A break would resume the primary downtrend and open the 3300.00 handle. On the upside, key short-term resistance has been defined at 3584.00, the Jun 27 high. A break is required to reinstate a bullish theme.

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