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(Z3) Outlook Remains Bearish

EUROSTOXX50 TECHS
  • RES 4: 4446.00 High Aug 10
  • RES 3: 4388.00 High Aug 30 and key resistance
  • RES 2: 4257.00/4359.00 20-day EMA / High Sep 15
  • RES 1: 4210.00 Low Sep 8
  • PRICE: 4155.00 @ 05:59 BST Sep 28
  • SUP 1: 4139.00 Low Sep 26
  • SUP 2: 4109.90 1.236 proj of the Aug 10 - 18 - 30 price swing
  • SUP 3: 4095.00 Low Mar 28 (cont)
  • SUP 4: 4055.40 76.4% retracement of the Mar 20 - Jul 31 bull cycle

Eurostoxx 50 futures maintain a softer tone following last week’s move lower. This week’s extension also 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 4109.90, a Fibonacci projection. Key short-term resistance has been defined at 4359.00, the Sep 15 high. A break would be bullish.

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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