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(U2) Bear Trigger Cleared

EUROSTOXX50 TECHS
  • RES 4: 3774.00 High Jun 9
  • RES 3: 3689.00 High Jun 10
  • RES 2: 3594.20 50-day EMA
  • RES 1: 3503.10/3584.00 20-day EMA / High Jun 27
  • PRICE: 3405.00 @ 05:30 BST Jul 7
  • SUP 1: 3343.00 Low Jul 6
  • SUP 2: 3321.30 50.0% retracement the major 2020 - 2021 upleg
  • SUP 3: 3300.00 Round number support
  • SUP 4: 3241.70 1.382 proj of the Mar 29 - May 10 - Jun 6 price swing

EUROSTOXX 50 futures traded sharply lower Tuesday and in the process cleared support and the bear trigger at 3384.00, the Jun 16 low. The break strengthens bearish conditions and confirms a resumption of the broader downtrend. This has opened 3321.30, 50.0% of the major 2020 - 2021 upleg. On the upside, key short-term resistance has been defined at 3584.00, the Jun 27 high.

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