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(U3) Bullish Price Action

EUROSTOXX50 TECHS
  • RES 4: 4546.00 1.00 proj of the Jul 7 - 13 - 26 price swing
  • RES 3: 4515.00 High Nov / Dec 2007
  • RES 2: 4501.60 1.618 proj of the May 31 - Jun 5 - 7 price swing
  • RES 1: 4498.00 High Jul 28
  • PRICE: 4479.00 @ 06:32 BST Jul 31
  • SUP 1: 4396.50 20-day EMA
  • SUP 2: 4363.90/4331.00 50-day EMA / Low Jul 26 and key support
  • SUP 3: 4282.00 Low Jul 11
  • SUP 4: 4220.00 Low Jul 7 and a reversal trigger

Eurostoxx 50 futures rallied late last week. This resulted in a break of key resistance at 4447.00, the Jul 3 high and a bull trigger. The rally has confirmed a resumption of the uptrend and marked the end of a broad sideways move that started May 19. Attention is on 4501.60 next, a Fibonacci projection. Key short-term support has been defined at 4331.00, the Jul 26 low. A break of this level would be a bearish development.

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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