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(U2) Bullish Extension

EUROSTOXX50 TECHS
  • RES 4: 3902.00 High Mar 29 and a key resistance
  • RES 3: 3855.00 High Apr 21
  • RES 2: 3840.00 High Jun 6 and key resistance
  • RES 1: 3811.00 High Jun 8
  • PRICE: 3756.00 @ 05:38 BST Aug 5
  • SUP 1: 3658.00 Low Aug 2
  • SUP 2: 3592.30/3467.00 50-day EMA / Low Jul 18 / 19
  • SUP 3: 3343.00 Low Jul 5 and the bear trigger
  • SUP 4: 3321.30 50.0% of the major 2020 - 2021 upleg (cont)

EUROSTOXX 50 futures trend conditions remain bullish and yesterday’s climb reinforces current conditions. The contract has cleared the 76.4% retracement of the Jun 6 - Jul 5 downleg, at 3722.40. The clear breach opens 3811.00 next, the Jun 8 high, ahead of 3840.00, the Jun 6 high. Key support and the bear trigger is unchanged at 3343.00, the Jul 5 low. Initial firm support to watch is 3586.00, the 50-day EMA.

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  • RES 4: 3902.00 High Mar 29 and a key resistance
  • RES 3: 3855.00 High Apr 21
  • RES 2: 3840.00 High Jun 6 and key resistance
  • RES 1: 3811.00 High Jun 8
  • PRICE: 3756.00 @ 05:38 BST Aug 5
  • SUP 1: 3658.00 Low Aug 2
  • SUP 2: 3592.30/3467.00 50-day EMA / Low Jul 18 / 19
  • SUP 3: 3343.00 Low Jul 5 and the bear trigger
  • SUP 4: 3321.30 50.0% of the major 2020 - 2021 upleg (cont)

EUROSTOXX 50 futures trend conditions remain bullish and yesterday’s climb reinforces current conditions. The contract has cleared the 76.4% retracement of the Jun 6 - Jul 5 downleg, at 3722.40. The clear breach opens 3811.00 next, the Jun 8 high, ahead of 3840.00, the Jun 6 high. Key support and the bear trigger is unchanged at 3343.00, the Jul 5 low. Initial firm support to watch is 3586.00, the 50-day EMA.