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(Z1) Testing The 50-Day EMA

EUROSTOXX50 TECHS
  • RES 4: 4234.50 0.764 projection of the Jul 19 - Sep 6 - 20 price swing
  • RES 3: 4223.00 High Sep 6 and the bull trigger
  • RES 2: 4141.30 76.4% retracement of the Sep 24 - Oct 6 downleg
  • RES 1: 4104.60/4200.50 61.8% of Sep 24 - Oct 6 rally / High Sep 24
  • PRICE: 4087.00 @ 06:04 BST Oct 14
  • SUP 1: 4004.00 / 3949.50 Low Oct 12 / Low Oct 6 and bear trigger
  • SUP 2: 3902.50 Low Jul 20
  • SUP 3: 3882.00 Low Jul 19 and a key support
  • SUP 4: 3856.40 1.382 proj of the Sep 6 - Sep 20 - Sep 24 price swing

EUROSTOXX 50 futures have recovered. Price action is testing the 50-day EMA, currently at 4089.80. A clear breach of the average is required to ease recent bearish pressure and allow for a stronger recovery. A failure at levels around the average would maintain the broader bearish risk and refocus attention on the key support at 3949.50, Oct 6 low. A break of this level would resume the downtrend and open 3882.00, Jul 19 low.

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