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(Z2) Short-Term Reversal

EUROSTOXX50 TECHS
  • RES 4: 3692.00 High Aug 26
  • RES 3: 3678.00 High Sep 13 and bull trigger
  • RES 2: 3573.80 Trendline resistance drawn from the Aug 17 high
  • RES 1: 3476.10/3511.60 20-day EMA / 50-day EMA
  • PRICE: 3393.00 @ 05:42 BST Oct 4
  • SUP 1: 3236.00/3229.00 Low Oct 3 / Low Nov 9 2020 (cont)
  • SUP 2: 3163.00 Low Nov 6 2020
  • SUP 3: 3143.20 1.382 proj of the Aug 17 - Sep 5 - 13 price swing
  • SUP 4: 3100.00 Round number support

EUROSTOXX 50 futures have established a bullish short-term tone following yesterday’ climb and today’s follow through. The strong recovery suggests the contract has entered a corrective cycle and this is allowing an oversold trend condition to unwind. Attention is on resistance at the 20-day EMA, at 3476.10 where a break would signal scope for an extension higher. This would open 3511.60, the 50-day EMA. Support is at 3236.00, yesterday’s low.

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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