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(U3) Trend Outlook Remains Bullish

EUROSTOXX50 TECHS
  • RES 4: 4489.00 1.50 proj of the May 31 - Jun 5 - 7 price swing
  • RES 3: 4474.40 1.382 proj of the May 31 - Jun 5 - 7 price swing
  • RES 2: 4448.00 High Jan 2008 (cont)
  • RES 1: 4438.00 High Jun 16
  • PRICE: 4373.00 @ 06:31 BST Jun 21
  • SUP 1: 4357.90/4303.00 20-day EMA / Low Jun 7
  • SUP 2: 4242.00 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 this week’s move lower is considered corrective. Resistance at 4380.00, May 29 high, was cleared last week and key resistance at 4434.00, May 19 high, has been pierced. A clear break of this hurdle would represent an important bullish development and open 4448.00, Jan 2008 high (cont). MA studies are in bull-mode condition highlighting an uptrend. Initial firm support is 4303.00, Jun 7 low.

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