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(U4) Watching 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: 5005.70 50-day EMA
  • PRICE:4992.00 @ 06:36 BST Jun 21
  • 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. A corrective cycle has resulted in a pullback from the May high. Recent weakness has seen price breach 4988.00, Jun 11 low, highlighting potential for a deeper retracement and has exposed 4846.00, Apr 19 low and a key support. The recovery from the Jun 14 low is an early bullish signal. Resistance to watch is at 5092.00, Jun 12 high. A break would expose key resistance at 5151.00.

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