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(Z1) Breaks Out Of Its Recent Range

EUROSTOXX50 TECHS
  • RES 4: 4385.00 1.236 proj of Mar 19- Jul 21-Oct 30 2020 swing (cont)
  • RES 3: 4290.50 1.00 proj of the Jul 19 - Sep 6 - Oct 6 price swing
  • RES 2: 4223.00 High Sep 6 and the bull trigger
  • RES 1: 4200.50 High Sep 24
  • PRICE: 4188.00 @ 06:03 BST Oct 25
  • SUP 1: 4106.10 50-day EMA
  • SUP 2: 4004.00 / 3949.50 Low Oct 12 / Low Oct 6 and bear trigger
  • SUP 3: 3902.50 Low Jul 20
  • SUP 4: 3882.00 Low Jul 19 and a key support

EUROSTOXX 50 futures traded higher Friday and broke out of its recent range. The outlook remains bullish. The contract recently cleared its 50-day EMA. The clear breach of this average and the recent break of a number of resistance points has exposed 4200.50, the Sep 24 high. Above this level is the major resistance and bull trigger at 4223.00, Sep 6 high. On the downside, the 50-day EMA, at 4106.20 today, marks initial

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