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(Z3) Continues To Climb

EUROSTOXX50 TECHS
  • RES 4: 4665.50 2.50 proj of the Oct 27 - Nov 3 - Nov 8 price swing
  • RES 3: 4636.70 76.4% retracement of the 2000 - 2009 downleg
  • RES 2: 4608.00 High Jun 2007 and a key resistance
  • RES 1: 4561.00 2.00 proj of the Oct 27 - Nov 3 - 8 price swing
  • PRICE: 4554.00 @ 05:45 GMT Dec 12
  • SUP 1: 4463.00/4398.00 Low Dec 6 / 20-day EMA
  • SUP 2: 4312.10 50-day EMA
  • SUP 3: 4238.00 Low Nov 14
  • SUP 4: 4185.00 Low Nov 9 and 10

A bullish theme in Eurostoxx 50 futures remains intact and the contract continues to climb. The fresh trend high confirms a resumption of the uptrend and maintains a bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position too, signalling a rising cycle. The focus is on 4561.00, a Fibonacci projection. Support to watch is at 4398.00, the 20-day EMA.

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