This morning’s support and resistance levels in the Eurostoxx 50 Futures included 2957 as an important reference above and 2925 as our first support below. It is Midday now (in the UK) and the range has been 2926-2958. This is the kind of reliability our customers depend on us for.
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Today’s Comment and Chart for the Eurostoxx 50 Futures:
Stoxx opened towards Mondays low at 2940, tested higher at 2952 and then drifted to 2925 into midday. A rally into the cash close up to 2950 wasn’t sustained after hours, and the close at 2936 confirmed the previous days Bearish Engulfing candle.
Although there was an uptick in volume the confirming candle didn’t breach any support levels so we’re bearish, but somewhat tentatively.
Marabuzo resistance remains at 2957. The 76.4% retracement of the February – March bear move remains at 2983. Horizontal and Marabuzo support stands at 2918 and 2912 respectively.