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(Z2) Heading North

EUROSTOXX50 TECHS
  • 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: 3960.00 @ 05:49 GMT Nov 25
  • SUP 1: 3840.00 Low Nov 17
  • SUP 2: 3810.00/3697.00 High Aug 17 / Low Nov 10
  • SUP 3: 3672.10 50-day EMA
  • SUP 4: 3562.00 Low Nov 3

A bullish EUROSTOXX 50 futures outlook remains intact and the contract traded higher Thursday. This maintains the recovery that started in early October and marks an extension of the bullish price sequence of higher highs and higher lows. The recent break of resistance at 3810.00, Aug 17 high, strengthened the case for bulls. The focus is on the 4000.00 psychological handle. Initial firm support lies at 3840, the Nov 17 low.

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