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(Z2) Bearish Price Activity

  • RES 4: 3810.00 High Aug 17 and key resistance zone
  • RES 3: 3753.00 High Aug 19
  • RES 2: 3692.00 High Aug 26
  • RES 1: 3543.60/3678.00 20-day EMA / High Sep 13 and bull trigger
  • PRICE: 3426.00 @ 06:08 BST Sep 22
  • SUP 1: 3405.00 Intraday low
  • SUP 2: 3360.00 Low Jul 16
  • SUP 3: 3341.00 Low Jul 5 and a key support
  • SUP 4: 3300.00 Round number support

EUROSTOXX 50 futures remain soft following the reversal last week from 3678.00, the Jun 13 high. Attention is on a key short-term support at 3423.00, the Sep 5 low. This level has been pierced, a clear break would strengthen bearish conditions and open 3360.00, the Jul 14 low. 3678.00 is the short-term bull trigger where a break would reinstate a bullish theme. Initial resistance is seen at 3543.60, the 20-day EMA.

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