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(U4) Monitoring Resistance

EUROSTOXX50 TECHS
  • RES 4: 5151.00 High May 16 and the bull trigger
  • RES 3: 5132.00 High Jun 6
  • RES 2: 5092.00 High Jun 12
  • RES 1: 5002.07/39.84 50-day EMA / 61.8% of May 16-Jun 14 sell-off
  • PRICE: 4997.00 @ 06:23 BST Jun 26
  • SUP 1: 4860.00 Low Jun 14
  • SUP 2: 4846.00 Low Apr 19 and a key support
  • SUP 3: 4800.00 Round number support
  • SUP 4: 4785.40 2.236 proj of the May 16 - Jun 4 - 6 price swing

The trend condition in Eurostoxx 50 futures remains bullish. The recovery from the Jun 14 low is potentially an early reversal signal highlighting the end of the May 16 - Jun 14 correction. Resistance to watch is at 5039.84, a Fibonacci retracement. Clearance of this level would be a positive development. A reversal lower would signal a resumption of the bearish corrective cycle. This would open 4846.00, the Apr 19 low and a key support.

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Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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