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(Z2) Heading North

EUROSTOXX50 TECHS
  • RES 4: 4000.00 Psychological round number
  • RES 3: 3961.20 61.8/% of the Nov ‘21 - Mar ‘22 bear leg (cont)
  • RES 2: 3944.00 High Mar 29 and a key resistance (cont)
  • RES 1: 3914.00 High Nov 14
  • PRICE: 3891.00 @ 05:52 GMT Nov 15
  • SUP 1: 3810.00/3697.00 High Aug 7 / Low Nov 10
  • SUP 2: 3664.50 20-day EMA
  • SUP 3: 3578.70 50-day EMA
  • SUP 4: 3418.00 Low Oct 21

A bullish EUROSTOXX 50 futures outlook remains intact following last week’s strong gains and the contract is trading at its recent highs. Price has cleared resistance at 3810.00, Aug 17 high and an important bull trigger. Moving average studies are in a bull mode set-up and this highlights the current positive market sentiment. The focus is on 3944.00, the Mar 29 high on the continuation chart. Initial firm support lies at Thursday's 3697.00 low.

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