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(Z3) Bearish Price Sequence

EUROSTOXX50 TECHS
  • RES 4: 4359.00 High Sep 15 and key resistance
  • RES 3: 4300.00 Round number resistance
  • RES 2: 4228.80/4256.00 50-day EMA / High Oct 12
  • RES 1: 4166.00 20-day EMA
  • PRICE: 4047.00 @ 06:01 BST Oct 23
  • SUP 1: 4034.00 Low Mar 24 (cont)
  • SUP 2: 4000.00 Psychological round number
  • SUP 3: 3979.00 1.00 proj of the Sep 15 - Oct 4 - Oct 12 price swing
  • SUP 4: 3914.00 Low Mar 20 (cont)

A bearish theme in Eurostoxx 50 futures remains in play and last week’s move lower reinforces current conditions. The contract has traded through support at 4082.00, the Oct 4 low and a bear trigger. This break confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on 4034, the Mar 24 low (cont). Initial firm resistance is at 4166.00, the 20-day EMA.

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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