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(Z1) Is Back Above Key EMAs

EUROSTOXX50 TECHS
  • RES 4: 4461.00 1.50 proj of the Jul 19 - Sep 6 - Oct 6 price swing
  • RES 3: 4420.80 1.382 proj of the Jul 19 - Sep 6 - Oct 6 price swing
  • RES 2: 4409.50 High Nov 18 and the bull trigger
  • RES 1: 4311.70 76.4% retracement of the Nov 18 - 30 downleg
  • PRICE: 4272.00 @ 05:40 GMT Dec 8
  • SUP 1: 4137.00 Intraday low
  • SUP 2: 4053.50/3995.00 Low Dec 3 / Low Nov 30
  • SUP 2: 3949.50 Low Oct 6 and bear trigger3:
  • SUP 4: 3882.00 Low Jul 19

EUROSTOXX 50 futures rallied sharply higher yesterday. The contract has breached resistance at 4186.00, the Dec 1 high and price has traded through both the 20- and 50-day EMAs. The focus is on 4311.70, the 76.4% retracement of the recent downleg between Nov 18 - 30. A break of this level would open 4409.50, the Nov 18 high and key resistance. Yesterday’s low of 4137.00 marks initial support. The key support lies at 3995.00, Nov 30 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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