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(U2) Resumes Its Uptrend

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: 3806.00 High Jun 8
  • PRICE: 3750.00 @ 05:35 BST Aug 12
  • SUP 1: 3691.00 Low Aug 10
  • SUP 2: 3625.00/3553.00 50-day EMA / Low Jul 26
  • SUP 3: 3467.00 Low Jul 18 / 19
  • SUP 4: 3343.00 Low Jul 5 and the bear trigger

EUROSTOXX 50 traded higher Friday to confirm a resumption of the current uptrend. The move higher maintains the bullish price sequence of higher highs and higher lows and attention is on resistance at 3840.00, the Jun 6 high. A break of this hurdle would strengthen bullish conditions. On the downside, key support is seen at the 50-day EMA which intersects at 3625.00. A break would signal a possible reversal.

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