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(Z3) Trend Needle Continues To Point South

EUROSTOXX50 TECHS
  • RES 4: 4388.00 High Aug 30 and reversal trigger
  • RES 3: 4359.00 High Sep 15 and key resistance
  • RES 2: 4270.80 50-day EMA
  • RES 1: 4207.30 20-day EMA
  • PRICE: 4166.0 @ Close Oct 6
  • SUP 1: 4082.00 Low Oct 4
  • SUP 2: 4055.40 76.4% retracement of the Mar 20 - Jul 31 bull cycle
  • SUP 3: 4034.00 Low Mar 24 (cont)
  • SUP 4: 4000.00 Psychological round number

Eurostoxx 50 futures trend conditions remain bearish, with Friday’s rally deemed corrective in nature. For now, short-term gains appear corrective. The contract has traded below 4128.00, the Sep 27 low. This confirms a resumption of the downtrend that started late July and signals scope for a move towards 4055.40, a Fibonacci retracement point. Initial firm resistance is at 4207.30, the 20-day EMA. A break of this average would signal a possible short-term base.

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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