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(Z1) Northbound

EUROSTOXX50 TECHS
  • RES 4: 4448.00 High Jan 2, 2008 (cont)
  • RES 3: 4400.00 Round number resistance
  • RES 2: 4371.00 1.236 proj of Jul 19-Sep 6-Oct 6 2020 swing (cont)
  • RES 1: 4367.00 High Nov 5
  • PRICE: 4351.00 @ 05:58 GMT Nov 8
  • SUP 1: 4223.50 High Sep 6 and a recent breakout level
  • SUP 2: 4178.00/4159.00 Low Oct 29 / 50-day EMA
  • SUP 3: 4004.00 / 3949.50 Low Oct 12 / Low Oct 6 and bear trigger
  • SUP 4: 3902.50 Low Jul 20

The EUROSTOXX 50 futures uptrend remains firmly intact. The contract has recently cleared former key resistance at 4223.00, Sep 6 high and a former key bull trigger. The break of this hurdle confirmed a resumption of the underlying uptrend and attention is on 4371.00 next, a Fibonacci projection. On the downside, the 50-day EMA, at 4159.00, remains a key support. A break is required to signal a potential short-term top.

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