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(Z2) Approaching Key Resistance Points

  • RES 4: 3678.00 High Sep 13 and bull trigger
  • RES 3: 3585.00 High Sep 14
  • RES 2: 3504.30 Trendline resistance drawn from the Aug 17 high
  • RES 1: 3492.00 High Oct 6 and a key resistance
  • PRICE: 3482.00 @ 06:22 BST Oct 18
  • SUP 1: 3352.00 Low Oct 14
  • SUP 2: 3251.00/3236.00 Low Oct 13 / 3 and a key support zone
  • SUP 3: 3305.00 Low Oct 11
  • SUP 4: 3236.00/3229.00 Low Oct 3 / Low Nov 9 2020 (cont)

EUROSTOXX 50 futures are firmer as price extends the recovery from 3251.00, Oct 13 low. Note that price has traded above the 50-day EMA, at 3472.00 - a positive development. Attention is on; resistance at 3492.00, the Oct 6 high and bull trigger and trendline resistance drawn from the Aug 17 high, which intersects at 3504.30 today. Clearance of 3492.00 and 3504.30 would highlight a strong S/T bullish development. Initial support is at 3352.00.

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