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(Z1) Eyeing Key Resistance

EUROSTOXX50 TECHS
  • RES 4: 4400.00 Round number resistance
  • RES 3: 4385.00 1.236 proj of Mar 19- Jul 21-Oct 30 2020 swing (cont)
  • RES 2: 4290.50 1.00 proj of the Jul 19 - Sep 6 - Oct 6 price swing
  • RES 1: 4223.00 High Sep 6 and the bull trigger
  • PRICE: 4206.00 @ 05:47 BST Oct 28
  • SUP 1: 4117.30 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 are holding onto recent gains and sights are on 4223.00, the Sep 6 high and the key bull trigger. This week's recovery reinforces a bullish theme and confirms an extension of the bull phase that started Oct 6. A break of 4223.00 would confirm a resumption of the broader uptrend and open 4290.50, a Fibonacci projection. On the downside, the 50-day EMA, at 4117.30 today, marks an initial key support.

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