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(U2) Uptrend Remains Intact

EUROSTOXX50 TECHS
  • RES 4: 3902.00 High Mar 29 and a key resistance
  • RES 3: 3877.30 50.0% of the Nov 18 ‘21 - Jul 5 bear leg (cont)
  • RES 2: 3855.00 High Apr 21
  • RES 1: 3840.00 High Jun 6 and key resistance
  • PRICE: 3766.00 @ 05:30 BST Aug 19
  • SUP 1: 3708.00 20-day EMA
  • SUP 2: 3647.90/3553.00 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 futures remain in an uptrend and Wednesday’s pullback is considered corrective. Recent gains have maintained the bullish price sequence of higher highs and higher lows and moving average studies are in a bull mode condition. Attention is on resistance at 3840.00, 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 3647.90.

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  • RES 4: 3902.00 High Mar 29 and a key resistance
  • RES 3: 3877.30 50.0% of the Nov 18 ‘21 - Jul 5 bear leg (cont)
  • RES 2: 3855.00 High Apr 21
  • RES 1: 3840.00 High Jun 6 and key resistance
  • PRICE: 3766.00 @ 05:30 BST Aug 19
  • SUP 1: 3708.00 20-day EMA
  • SUP 2: 3647.90/3553.00 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 futures remain in an uptrend and Wednesday’s pullback is considered corrective. Recent gains have maintained the bullish price sequence of higher highs and higher lows and moving average studies are in a bull mode condition. Attention is on resistance at 3840.00, 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 3647.90.