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(Z3) Testing 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: 4294.20/4359.00 High Jul 21 / High Sep 15
  • PRICE: 4230.00 @ 06:00 BST Sep 22
  • SUP 1: 4207.00 Intraday low
  • SUP 2: 4163.00 1.00 proj of the Aug 10 - 18 - 30 price swing
  • SUP 3: 4142.80 61.8% retracement of the Mar 20 - Jul 31 climb (cont)
  • SUP 4: 4109.90 1.236 proj of the Aug 10 - 18 - 30 price swing

Eurostoxx 50 futures maintain a softer tone following this week’s move lower. Attention is on key near-term support at 4210.00, the Sep 8 low. This level has been pierced, a clear break would confirm a resumption of the downtrend that started late July and pave 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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