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(Z1) Probes 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: 4226.00 High Oct 28
  • PRICE: 4205.50 @ 05:43 BST Oct 29
  • SUP 1: 4121.30 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. The contract probed key resistance at 4223.00 yesterday, the Sep 6 high and the key bull trigger. A clear break of this hurdle would confirm a resumption of the underlying uptrend and open 4290.50, a Fibonacci projection. On the downside, the 50-day EMA, at 4121.30 today, marks an initial key support. A break would signal a potential short-term top.

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