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(U2) Remains Above Recent Lows

EUROSTOXX50 TECHS
  • RES 4: 3774.00 High Jun 9
  • RES 3: 3689.00 High Jun 10
  • RES 2: 3634.40 50-day EMA
  • RES 1: 3584.00 High Jun 27
  • PRICE: 3521.00 @ 05:37 BST Jun 28
  • SUP 1: 3384.00 Low Jun 16 and the bear trigger
  • SUP 2: 3300.00 Round number support
  • SUP 3: 3241.70 1.382 proj of the Mar 29 - May 10 - Jun 6 price swing
  • SUP 4: 3189.10 1.50 proj of the Mar 29 - May 10 - Jun 6 price swing

EUROSTOXX 50 futures traded higher Friday and price continues to trade above recent lows. The primary trend direction remains down though and short-term gains are considered corrective. Moving average studies are in bear mode condition and this highlights a bearish trend set-up. First resistance is seen at 3584.00, Jun 16 high and firmer resistance is at 3634.40, the 50-day EMA. The bear trigger is at 3384.00, Jun 16 low.

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