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(U2) Heading North

EUROSTOXX50 TECHS
  • RES 4: 3855.00 High Apr 21
  • RES 3: 3840.00 High Jun 6 and key resistance
  • RES 2: 3774.00 High Jun 9
  • RES 1: 3727.00 High Jul 29
  • PRICE: 3690.00 @ 05:20 BST Aug 1
  • SUP 1: 3570.00/3467.00 50-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 once again Friday, reinforcing current bullish conditions. The contract has pierced the 76.4% retracement of the Jun 6 - Jul 5 downleg, at 3722.40. A clear breach of this chart point would signal scope for a climb towards 3774.00 next, the Jun 9 high. On the downside, the key support and bear trigger is unchanged at 3343.00, Jul 5 low. Initial firm support to watch lies at 3570.50, the 50-day EMA.

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