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(U3) Primary Uptrend Remains Intact

EUROSTOXX50 TECHS
  • RES 4: 4487.00 1.50 proj of the May 31 - Jun 5 - 7 price swing
  • RES 3: 4472.40 1.382 proj of the May 31 - Jun 5 - 7 price swing
  • RES 2: 4448.00 High Jan 2008 (cont)
  • RES 1: 4498.00 High Jun 29 / High Jun 16 and bull trigger
  • PRICE: 4388.00 @ 06:36 BST Jun 30
  • SUP 1: 4262.00 Low Jun 26
  • SUP 2: 4241.00 Low May 31 and the bear trigger
  • SUP 3: 4200.00 Round number support
  • SUP 4: 4150.00 Low Mar 29

The Eurostoxx 50 futures uptrend remains intact and the pair has recovered from Monday’s low. A continuation higher would open 4448.00, the Jun 16 high and the bull trigger. A break of this hurdle would confirm a resumption of the uptrend and expose 4472.40, a Fibonacci projection. On the downside, key support lies at 4241.00, the May 31 low. A breach of this level is required to signal a reversal.

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