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(Z3) Bullish Trend Structure

EUROSTOXX50 TECHS
  • RES 4: 4500.00 High 1
  • RES 3: 4446.00 High Aug 10
  • RES 2: 4407.40 76.4% retracement of the Jul 31 - Oct 27 bear leg
  • RES 1: 4391.00 High Nov 29
  • PRICE: 4390.00 @ 06:06 GMT Nov 30
  • SUP 1: 4298.50 20-day EMA
  • SUP 2: 4215.40 50-day EMA
  • SUP 3: 4185.00 Low Nov 9 and 10
  • SUP 4: 4143.00 Low Nov 8

A bullish theme in Eurostoxx 50 futures remains intact. MA studies are in a bull-mode position signalling a rising cycle and the potential for a continuation higher. The focus is on 4388.00, the Aug 30 high. It has been pierced, a clear break of it would open 4400.00 and 4446.00, the Aug 10 high. Initial firm support to watch is at 4298.50, the 20-day EMA. Note that the trend condition is overbought, a move lower would allow this overbought reading to unwind.

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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