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(Z2) Southbound

EUROSTOXX50 TECHS
  • RES 4: 3810.00 High Aug 17 and key resistance zone
  • RES 3: 3753.00 High Aug 19
  • RES 2: 3692.00 High Aug 26
  • RES 1: 3481.30/3678.00 20-day EMA / High Sep 13 and bull trigger
  • PRICE: 3296.00 @ 05:43 BST Sep 28
  • SUP 1: 3281.00 Intraday low
  • SUP 2: 3229.00 Low Nov 9 2020 (cont)
  • SUP 3: 3163.00 Low Nov 6 2020
  • SUP 4: 3143.20 1.382 proj of the Aug 17 - Sep 5 - 13 price swing

EUROSTOXX 50 futures remain soft and the contract continues to trend lower, marking an extension of the reversal on Sep 13 from 3678.00. Key short-term support at 3423.00, the Sep 5 low, has been cleared, The break strengthens bearish conditions and has led to a breach of 3341.00, the Jul 5 low, MA studies are in a bear mode position too, highlighting the current trend direction. The focus is on 3229.00 next, the Nov 9 2020 low (cont).

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