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(Z2) Bullish Conditions Intact

  • RES 4: 4132.60 76.4/% of the Nov ‘21 - Mar ‘22 bear leg (cont)
  • RES 3: 4049.50 High Feb 23 (cont)
  • RES 2: 4000.00 Psychological round number
  • RES 1: 3977.00 High Nov 24
  • PRICE: 3955.00 @ 05:22 GMT Nov 30
  • SUP 1: 3840.00 Low Nov 17
  • SUP 2: 3810.00/3697.00 High Aug 17 / Low Nov 10
  • SUP 3: 3702.80 50-day EMA
  • SUP 4: 3562.00 Low Nov 3

The EUROSTOXX 50 futures trend condition remains bullish and the contract is trading closer to its recent highs. Recent trend highs maintain the recovery that started in early October and confirm an extension of the bullish price sequence of higher highs and higher lows. The recent break of 3810.00, Aug 17 high, also strengthened the case for bulls. The focus is on the 4000.00 psychological handle. Initial firm support is at 3840, the Nov 17 low.

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