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(Z1) Holding Onto The Bulk Of Recent Gains

EUROSTOXX50 TECHS
  • RES 4: 4498.00 High Dec 27, 2007 (cont)
  • RES 3: 4448.00 High Jan 2, 2008 (cont)
  • RES 2: 4420.80 1.382 proj of the Jul 19 - Sep 6 - Oct 6 price swing
  • RES 1: 4409.50 High Nov 18
  • PRICE: 4394.50 @ 06:00 GMT Nov 19
  • SUP 1: 4307.10/4223.00 20-day EMA / High Sep 6
  • SUP 2: 4221.80 50-day EMA
  • SUP 3: 4119.00 Low Oct 18
  • SUP 4: 4004.00 / 3949.50 Low Oct 12 / Low Oct 6 and bear trigger

EUROSTOXX 50 futures uptrend remains intact and the contract is trading closer to recent highs Moving average signals still point north and the recent breach of 4223.00, Sep 6 high and a former bull trigger, highlighted an important bullish technical break. The psychological 4400.00 handle has been probed and the focus is on 4420.80 next, a Fibonacci projection. The 50-day EMA, at 4221.80, remains a key support.

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