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(Z3) Trend Needle Points North

EUROSTOXX50 TECHS
  • RES 4: 4446.00 High Aug 10
  • RES 3: 4407.40 76.4% retracement of the Jul 31 - Oct 27 bear leg
  • RES 2: 4388.00 High Aug 30
  • RES 1: 4366.00 High Nov 20
  • PRICE: 4345.00 @ 05:49 GMT Nov 22
  • SUP 1: 4256.00 High Oct 12 and a recent breakout level
  • SUP 2: 4239.80/4143.00 20-day EMA / Low Nov 8
  • SUP 3: 4063.00 Low Nov 1
  • SUP 4: 4001.00 Low Oct 27 and bear trigger

A short-term bull cycle in Eurostoxx 50 futures remains intact and the contract is holding on to its recent gains. Price has recently cleared resistance at both the 20- and 50-day EMAs - a bullish development and activity remains above these averages. Note that resistance at 4256.00, the Oct 12 high, has also been cleared, reinforcing the bullish theme. The focus is on 4388.00, the Aug 30 high. Initial firm support to watch is at 4239.80, the 20-day EMA.

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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