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(U4) Pierces Resistance At The 50-Day EMA

EUROSTOXX50 TECHS
  • RES 4: 5132.00 High Jun 6
  • RES 3: 5087.00 High Jul 12
  • RES 2: 4951.00 High Jul 31
  • RES 1: 4873.00 50-day EMA
  • PRICE: 4863.00 @ 06:00 BST Aug 19
  • SUP 1: 4665.00/4494.00 Low Aug 9 / 5 and the bear trigger
  • SUP 2: 4478.81 2.236 proj of the Jun 6 - 14 - Jul 12 price swing
  • SUP 3: 4424.64 61.8% of the Oct 27 ‘23 - May 16 bull cycle (cont)
  • SUP 4: 4502.00 Low Jan 24 (cont)

Eurostoxx 50 futures traded sharply higher last week, extending the recovery that started Aug 5. The contract has traded through the 20-day EMA and attention is on resistance at the 50-day EMA, at 4866.49. A clear break of this average would undermine the recent bearish theme and highlight a stronger reversal. This would open 4951.00, the Jul 31 high. For bears, a reversal lower would refocus attention on the bear trigger at 4494.00, the Aug 5 low.

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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