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EUROSTOXX50 TECHS: (Z4) Bullish Outlook

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5184.22 3.236 proj of the Nov 19 - 25 - 27 price swing
  • RES 3: 5150.00 3.00 proj of the Nov 19 - 25 - 27 price swing       
  • RES 2: 5106.00 High Sep 30 and a bull trigger 
  • RES 1: 5015.00 High Oct 29        
  • PRICE: 4946.00 @ 06:30 GMT Dec 18  
  • SUP 1: 4895.65/4844.00 50-day EMA / High Nov 25      
  • SUP 2: 4760.00 Low Dec 2     
  • SUP 3: 4699.00 Low Nov 19 and bear trigger
  • SUP 4: 4707.00 Low Aug 9 

A bull cycle in the Eurostoxx 50 futures contract remains intact and the latest pullback is - for now - considered corrective. The contract has recently traded through the 50-day EMA. The clear break of this average strengthens a bullish theme and note that 4961.00, the Nov 6 high, has also been cleared. A resumption of gains would open 5015.00 next, the Oct 29 high. Initial support to watch lies at 4895.65, the 50-day EMA.

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  • RES 4: 5184.22 3.236 proj of the Nov 19 - 25 - 27 price swing
  • RES 3: 5150.00 3.00 proj of the Nov 19 - 25 - 27 price swing       
  • RES 2: 5106.00 High Sep 30 and a bull trigger 
  • RES 1: 5015.00 High Oct 29        
  • PRICE: 4946.00 @ 06:30 GMT Dec 18  
  • SUP 1: 4895.65/4844.00 50-day EMA / High Nov 25      
  • SUP 2: 4760.00 Low Dec 2     
  • SUP 3: 4699.00 Low Nov 19 and bear trigger
  • SUP 4: 4707.00 Low Aug 9 

A bull cycle in the Eurostoxx 50 futures contract remains intact and the latest pullback is - for now - considered corrective. The contract has recently traded through the 50-day EMA. The clear break of this average strengthens a bullish theme and note that 4961.00, the Nov 6 high, has also been cleared. A resumption of gains would open 5015.00 next, the Oct 29 high. Initial support to watch lies at 4895.65, the 50-day EMA.