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(Z2) Holding On To 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: 3936.00 High Nov 18
  • PRICE: 3910.00 @ 05:50 GMT Nov 21
  • SUP 1: 3810.00/3697.00 High Aug 17 / Low Nov 10
  • SUP 2: 3625.60 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 and price is trading just ahead of its recent highs. Resistance at 3810.00, the Aug 17 high and an important bull trigger, has recently been breached, strengthening the case for bulls Furthermore, moving average studies remain in a bull mode set-up, highlighting 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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