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(Z2) Trend Needle Still Points South

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: 3497.50/3678.00 20-day EMA / High Sep 13 and bull trigger
  • PRICE: 3355.00 @ 05:41 BST Sep 26
  • SUP 1: 3314.00 Low Sep 26
  • SUP 2: 3300.00 Round number support
  • SUP 3: 3329.00 Low Nov 9 2020 (cont)
  • SUP 4: 3163.00 Low Nov 6 2020

EUROSTOXX 50 futures remain soft following the reversal on Sep 13, from 3678.00, the Jun 13 high and last week’s follow through. 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, opening 3300.00 next. MA studies are in a bear mode position too, highlighting the current trend direction. Initial firm resistance is at 3497.50, the 20-day EMA.

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  • 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: 3497.50/3678.00 20-day EMA / High Sep 13 and bull trigger
  • PRICE: 3355.00 @ 05:41 BST Sep 26
  • SUP 1: 3314.00 Low Sep 26
  • SUP 2: 3300.00 Round number support
  • SUP 3: 3329.00 Low Nov 9 2020 (cont)
  • SUP 4: 3163.00 Low Nov 6 2020

EUROSTOXX 50 futures remain soft following the reversal on Sep 13, from 3678.00, the Jun 13 high and last week’s follow through. 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, opening 3300.00 next. MA studies are in a bear mode position too, highlighting the current trend direction. Initial firm resistance is at 3497.50, the 20-day EMA.