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(Z2) Holding On To Its Recent Gains

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: 3932.00 High Nov 15
  • PRICE: 3896.00 @ 06:12 GMT Nov 16
  • SUP 1: 3810.00/3697.00 High Aug 7 / Low Nov 10
  • SUP 2: 3591.50 50-day EMA
  • SUP 3: 3562.00 Low Nov 3
  • SUP 4: 3418.00 Low Oct 21

A bullish EUROSTOXX 50 futures outlook remains intact. Price is consolidating but importantly, the contract remains at its recent highs. Resistance at 3810.00, the Aug 17 high and an important bull trigger, has been breached. Moving average studies are in a bull mode set-up and this highlights positive market sentiment. The focus is on 3944.00, Mar 29 high on the continuation chart. Initial firm support lies at 3697.00, the Nov 10 low.

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