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(U2) Bull Flag Confirmed

EUROSTOXX50 TECHS
  • RES 4: 3722.70 76.4% retracement of the Jun 6 - Jul 5 downleg
  • RES 3: 3689.00 High Jun 10
  • RES 2: 3650.10 61.8% retracement of the Jun 6 - Jul 5 downleg
  • RES 1: 3633.00 High Jul 28
  • PRICE: 3622.00 @ 06:37 BST Jul 28
  • SUP 1: 3533.20/3467.00 20-day EMA / Low Jul 18 / 19
  • SUP 2: 3343.00 Low Jul 5 and the bear trigger
  • SUP 3: 3321.30 50.0% of the major 2020 - 2021 upleg (cont)
  • SUP 4: 3300.00 Round number support

EUROSTOXX 50 futures traded higher Wednesday and moved above recent highs to confirm a bull flag on the daily chart and a resumption of the current uptrend. The short-term outlook remains bullish and the focus is on a recovery towards 3689.00, the Jun 10 high. The key support and bear trigger is unchanged at 3343.00, Jul 5 low. Initial firm support to watch lies at 3467.00, the Jul 18 / 19 low.

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