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(U2) Sharp Sell-Off Resume Downtrend

EUROSTOXX50 TECHS
  • RES 4: 3822/40.00 High Aug 17 / High Jun 6 and key resistance zone
  • RES 3: 3782.00 High Aug 18
  • RES 2: 3705.00 High Aug 26 and key near-term resistance
  • RES 1: 3621.00 Low Aug 23
  • PRICE: 3551.00@ 05:39 BST Aug 29
  • SUP 1: 3526.00 61.8% retracement of the Jul 5 - Aug 17 rally
  • SUP 1: 3500.00 Round number support
  • SUP 3: 3456.00 76.4% retracement of the Jul 5 - Aug 17 rally
  • SUP 4: 3386.00 Low Jul 15

EUROSTOXX 50 futures sold off sharply Friday, ending a shallow correction and resuming the current bearish cycle. The break lower paves the way for an extension lower and attention is on 3526.00, a Fibonacci retracement. Scope is also seen for a move towards the 3500.00 handle. On the upside, initial resistance is seen at 3621.00, the Aug 23 low and a recent breakout level. Firmer resistance is at 3705.00, the Aug 26 high.

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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