EUROSTOXX50 TECHS: (M5) Bulls Remain In The Driver’s Seat
- RES 4: 5600.00 Round number resistance
- RES 3: 5565.23 1.618 proj of the Apr 7 - 9 - 10 price swing
- RES 2: 5516.00 High Mar 3 and the key bull trigger
- RES 1: 5475.00 High May 20
- PRICE: 5406.00 @ 06:27 BST Jun 5
- SUP 1: 5349.64 20-day EMA
- SUP 2: 5268.58 50-day EMA and a key support
- SUP 3: 5142.00 Low May 2
- SUP 4: 5055.00 Low Apr 30
The trend cycle in Eurostoxx 50 futures is unchanged, it remains bullish and a recent pullback appears corrective. Moving average studies are in a bull-mode position, highlighting a clear dominant uptrend. Sights are on 5516.00, the Mar 3 high and the key bull trigger. Clearance of this level would strengthen a bull theme. Key support to watch lies at 5268.58, the 50-day EMA. A clear break of this average is required to signal a possible reversal.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EUROZONE T-BILL ISSUANCE: W/C 5 May, 2025
Spain, Belgium, the Netherlands, the ESM, the EU and Italy are all still due to sell bills this week while Germany and France held auctions yesterday. We expect issuance to be E34.4bln in first round operations, up from E17.0bln last week.
- This morning, Spain will look to issue a combined E5.5-6.5bln of the 6-month Nov 7, 2025 letras and the new 12-month May 8, 2026 letras.
- Also this morning, Belgium will look to sell E2.4-2.8bln of TCs: An indicative E1.0bln of the 3-month Aug 14, 2025 TC; an indicative E0.8bln of the 6-month Nov 13, 2025 TC; an indicative E0.8bln of the 11-month Apr 9, 2026 TC.
- Additionally this morning, the Netherlands will come to the market with E1.0-2.0bln of the 4-month Aug 28, 2025 DTC and E1.0-2.0bln of the new 6-month Oct 30, 2025 DTC.
- Finally today, the ESM will look to issue up to E1.1bln of the new 3-month Aug 7, 2025 bills.
- Tomorrow, the EU will look to sell up to E1.0bln of the 3-month Aug 8, 2025 EU-bill, up to E1.5bln of the new 6-month Nov 7, 2025 EU-bill and up to E1.5bln of the new 12-month May 8, 2026 EU-bill.
- To conclude issuance for the week on Friday morning, Italy will come to the market with a new 12-month BOT, potentially alongside another BOT. Details will be announced later today.
EUROSTOXX50 TECHS: (M5) Pierces Resistance
- RES 4: 5516.00 High Mar 3 and the key bull trigger
- RES 3: 5471.00 High Mar 19 / 20
- RES 2: 5341.00 High Mar 27
- RES 1: 5263.01/66.00 76.4% of Mar 3 - Apr 7 bear leg / High May 5
- PRICE: 5242.00 @ 06:20 BST May 6
- SUP 1: 5067.15 20-day EMA
- SUP 2: 4959.00/4812.00 Low Apr 23 / 16 and a key support
- SUP 3: 4664.00 Low Apr 10
- SUP 4: 4444.00 Low Apr 7 and the bear trigger
Eurostoxx 50 futures maintain a positive tone and the contract is holding on to its latest gains. Price has recently cleared both the 20- and 50-day EMAs, and attention is on 5263.01, 76.4% of the Mar 3 - Apr 7 bear leg. It has been pierced, a clear break of it would pave the way for a climb towards 5341.00, the Mar 27 high. Initial support to watch lies at 5067.15, the 20-day EMA. Clearance of this level would signal a possible reversal.
SCHATZ TECHS: (M5) MA Studies Highlight An Uptrend
- RES 4: 107.812 0.618 proj of the Mar 6 - Apr 7 - 9 price swing
- RES 3: 107.800 Round number resistance
- RES 2: 107.775 High Apr 7 and the bull trigger
- RES 1: 107.600/735 High Apr 30 / 22
- PRICE: 107.410 @ 06:12 BST May 6
- SUP 1: 107.370 Low Apr 17
- SUP 2: 107.252 38.2% retracement of the Mar 6 - Apr 7 bull cycle
- SUP 3: 107.125 Low Apr 10
- SUP 4: 106.965 Low Apr 9 and a key support
A bull cycle in Schatz futures remains in play and the latest pullback appears corrective. Attention is on resistance at 107.775, the Apr 7 high and bull trigger. Clearance of this level would confirm a resumption of the uptrend and open 107.812, a Fibonacci projection. Moving average studies remain in a bull-mode position, highlighting a dominant uptrend. Initial support to watch lies at 107.370, the Apr 17 low.
