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(U3) Maintains A Softer Tone

EUROSTOXX50 TECHS
  • RES 4: 4539.20 1.382 proj of the May 31 - Jul 3 - 7 price swing (cont)
  • RES 3: 4515.00 High Nov / Dec 2007 (cont)
  • RES 2: 4424.00/4513.00 High Aug 2 / High Jul 31 and the bull trigger
  • RES 1: 4387.20 20-day EMA
  • PRICE: 4337.00 @ 06:21 BST Aug 7
  • SUP 1: 4295.00 Low Aug 3
  • SUP 2: 4220.00 Low Jul 7 and a reversal trigger
  • SUP 3: 4177.40 61.8% retracement of the Mar 20 - Jul 31 bull leg
  • SUP 4: 4122.00 Low Mar 28

A bearish threat in Eurostoxx 50 futures remains present following last week’s sharp sell-off from 4513.00, the Jul 31 high. Price has cleared both the 20- and 50-day EMAs, highlighting a stronger bearish theme. Note too, that key support at 4331.00, the Jul 26 low, has been cleared. This strengthens current conditions and opens 4220.00, the Jul 7 low and a reversal trigger. Initial firm resistance is at 4424.00, the Aug 2 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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