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(Z2) Trendline Resistance Remains Exposed

EUROSTOXX50 TECHS
  • RES 4: 3678.00 High Sep 13 and a key resistance
  • RES 3: 3585.00 High Sep 14
  • RES 2: 3533.00 High Sep 20
  • RES 1: 3509.00 High Oct 18
  • PRICE: 3451.00 @ 06:13 BST Oct 21
  • SUP 1: 3352.00 Low Oct 14
  • SUP 2: 3251.00/3236.00 Low Oct 13 / 3 and a key support zone
  • SUP 3: 3305.00 Low Oct 11
  • SUP 4: 3236.00/3229.00 Low Oct 3 / Low Nov 9 2020 (cont)

EUROSTOXX 50 futures maintain a firmer tone following the recent recovery from 3251.00, Oct 13 low. The move higher has resulted in a break of the 50-day EMA and resistance at 3492.00, the Oct 6 high and a bull trigger. Price has also tested trendline resistance drawn from the Aug 17 high. The trendline intersects at 3483.50 and a clear break of this hurdle would strengthen bullish conditions. Initial firm support is at 3352.00, the Oct 14 low.

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