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(Z2) Bull Cycle

  • RES 4: 3678.00 High Sep 13 and bull trigger
  • RES 3: 3585.00 High Sep 14
  • RES 2: 3518.20 Trendline resistance drawn from the Aug 17 high
  • RES 1:3476.80/3492.00 50-day EMA / High Oct 6
  • PRICE: 3420.00 @ 05:58 BST Oct 14
  • SUP 1: 3251.00/3236.00 Low Oct 13 / 3 and a key support zone
  • SUP 2: 3305.00 Low Oct 11
  • SUP 3: 3236.00/3229.00 Low Oct 3 / Low Nov 9 2020 (cont)
  • SUP 4: 3163.00 Low Nov 6 2020

EUROSTOXX 50 futures traded in a volatile manner Thursday, rebounding sharply from the day low of 3251.00. The contract is higher today and price has traded above the 20-day EMA. This highlights a short-term reversal and the start of a bull cycle. The focus is on the 50-day EMA at 3476.80 and resistance at 3492.00, the Oct 6 high. On the downside, the key support zone to watch is at 3251.00-3236.00.

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