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(Z2) Bull Cycle?

EUROSTOXX50 TECHS
  • RES 4: 3678.00 High Sep 13 and bull trigger
  • RES 3: 3585.00 High Sep 14
  • RES 2: 3511.30 Trendline resistance drawn from the Aug 17 high
  • RES 1:3473.30/3492.00 50-day EMA / High Oct 6
  • PRICE: 3368.00 @ 05:26 BST Oct 17
  • 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 last week, rebounding sharply from 3251.00, the Oct 13 low The strong recovery highlights a potential short-term reversal and if correct, the start of a bull cycle. The focus is on the 50-day EMA at 3473.30 and resistance at 3492.00, the Oct 6 high. A break of this zone would strengthen a bullish case. On the downside, the key support zone to watch is at 3251.00-3236.00.

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