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(Z3) Clears Key Support

EUROSTOXX50 TECHS
  • RES 4: 4446.00 High Aug 10
  • RES 3: 4409.60 61.8% retracement of the Jul 31 - Sep 8 downleg
  • RES 2: 4388.00 High Aug 30 and key resistance
  • RES 1: 4279.40/4359.00 20-day EMA / High Sep 15
  • PRICE: 4183.00 @ 05:55 BST Sep 26
  • SUP 1: 4163.00 1.00 proj of the Aug 10 - 18 - 30 price swing
  • SUP 2: 4142.80 61.8% retracement of the Mar 20 - Jul 31 climb (cont)
  • SUP 3: 4109.90 1.236 proj of the Aug 10 - 18 - 30 price swing
  • SUP 4: 4095.00 Low Mar 28 (cont)

Eurostoxx 50 futures maintain a softer tone following last week’s move lower, and Monday's extension reinforces current conditions. Key support at 4210.00, the Sep 8 low, has been breached. The clear break confirms a resumption of the downtrend that started late July and paves the way for a move towards 4163.00, a Fibonacci projection. Key short-term resistance has been defined at 4359.00, the Sep 15 high. A break would be bullish.

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