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(Z2) Has Cleared The 20-Day EMA

EUROSTOXX50 TECHS
  • RES 4: 3692.00 High Aug 26
  • RES 3: 3678.00 High Sep 13 and bull trigger
  • RES 2: 3810.00 Trendline resistance drawn from the Aug 17 high
  • RES 1: 3482.00/3510.30 High Oct 4 / 50-day EMA
  • PRICE: 3465.00 @ 06:08 BST Oct 5
  • SUP 1: 3355.00 Low Oct 4
  • SUP 2: 3236.00/3229.00 Low Oct 3 / Low Nov 9 2020 (cont)
  • SUP 3: 3163.00 Low Nov 6 2020
  • SUP 4: 3143.20 1.382 proj of the Aug 17 - Sep 5 - 13 price swing

EUROSTOXX 50 futures have established a bullish short-term tone following this week’s strong reversal. A corrective cycle has been established and this is allowing a recent oversold trend condition to unwind. The 20-day EMA, at 3431.10 has been cleared, the break signals scope for an extension and this opens 3510.30, the 50-day EMA - a key resistance. Key support has been defined at 3236.00, the Oct 3 low.

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