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(U2) Primary Trend Direction Remains Down

EUROSTOXX50 TECHS
  • RES 4: 3774.00 High Jun 9
  • RES 3: 3689.00 High Jun 10
  • RES 2: 3584.00 High Jun 27 and a key resistance
  • RES 1: 3504.00/3574.70 High Jul 8 / 50-day EMA
  • PRICE: 3436.00 @ 05:25 BST Jul 12
  • SUP 1: 3343.00 Low Jul 5 and the bear trigger
  • 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 recovered last week from 3343.00, Jul 5 low. Short-term gains are still considered corrective and the primary trend direction remains down. Last week’s breach of support at 3384.00, Jun 16 low, reinforces bearish conditions and highlights a resumption of the broader downtrend, opening 3321.30, a Fibonacci retracement. Key short-term resistance is at 3584.00, the Jun 27 high. A break would alter the picture

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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