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(U3) Bull Cycle Still In Play

EUROSTOXX50 TECHS
  • RES 4: 4501.60 1.618 proj of the May 31 - Jun 5 - 7 price swing
  • RES 3: 4472.24 1.382 proj of the May 31 - Jun 5 - 7 price swing
  • RES 2: 4447.00 High Jul 3 and the bull trigger
  • RES 1: 4435.00 High Jul 13 / 14
  • PRICE: 4395.00 @ 06:28 BST Jul 26
  • SUP 1: 4353.30/4220.00 50-day EMA / Low Jul 7 and key support
  • SUP 2: 4208.50 50.0% retracement of the Mar 20 - Jul 3 bull cycle
  • SUP 3: 4200.00 Round number support
  • SUP 4: 4152.20 61.8% retracement of the Mar 20 - Jul 3 bull cycle

Eurostoxx 50 futures remain in consolidation mode but continue to trade closer to their recent highs and price is holding above the 50-day EMA at 4353.30. Attention is on key resistance and the bull trigger at 4447.00, the Jul 3 high. Clearance of this level would confirm a resumption of the uptrend. Key support and the bear trigger has been defined at 4220.00, the Jul 7 low. Initial support is at the 50-day EMA.

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