EUROSTOXX50 TECHS: (U5) Trading Above Monday’s Low
- RES 4: 5486.00 High May 20 and a key bull trigger
- RES 3: 5456.00 High Jun 11
- RES 2: 5403.00 High Jun 12
- RES 1: 5364.00 High Jun 16
- PRICE: 5278.00 @ 06:29 BST Jun 26
- SUP 1: 5194.00 Low Jun 23 and a bear trigger
- SUP 2: 5182.00 Low May 2
- SUP 3: 5100.94 38.2% retracement of the Apr 7 - May 20 bull leg
- SUP 4: 5078.00 Low Apr 30
A short-term bear cycle in Eurostoxx 50 futures remains intact, however, the recovery from Monday’s low appears to be a potential reversal. The contract has traded through the 20- and 50-day EMAs. A clear break of both averages would strengthen a reversal theme and signal scope for a stronger recovery. This would open 5486.00, the May 20 high and bull trigger. On the downside, a breach of Monday’s 5194.00 low would reinstate a bearish theme.
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EUROZONE T-BILL ISSUANCE: W/C 26 May
Austria, Greece and Italy are still due to sell bills this week, while France has already come to the market. We expect issuance to be E17.1bln in first-round operations, down from up E20.0bln last week.
- Today, Austria will look to sell E1bln of the 2-month Jul 24, 2025 ATB alongside E2bln of the 3-month Aug 28, 2025 Green ATB.
- Tomorrow, Greece will look to sell E500mln of the new 26-week Nov 28, 2025 GTB.
- Also tomorrow, Italy will look to sell E6.5bln of the new 6-month Nov 28, 2025 BOT.
US TSYS: 2yr Block trade
2yr Block trade, suggest Buyer:
- TUM5 ~2.7k at 103.1025.
SCHATZ TECHS: (M5) Has Cleared Resistance
- RES 4: 107.812 0.618 proj of the Mar 6 - Apr 7 - 9 price swing
- RES 3: 107.775 High Apr 7 and the bull trigger
- RES 2: 107.600 High Apr 30
- RES 1: 107.550 High May 7 and last Friday’s high
- PRICE: 107.380 @ 06:25 BST May 27
- SUP 1: 107.195/070 Low May 22 / 13 and the bear trigger
- SUP 2: 106.965 Low Apr 9 and a key support
- SUP 3: 106.928 61.8% retracement of the Mar 6 - Apr 7 bull cycle
- SUP 4: 106.830 Low Mar 27
A bull cycle in Schatz futures remains intact and resistance at 107.335, the May 12 / 20 high, has been cleared. The break signals a stronger reversal. This exposes 107.550, the May 7 high. A break of this level would strengthen a bullish theme. For bears, a resumption of the recent bear leg would instead signal scope for an extension towards 106.965, the Apr 9 low. The bear trigger has been defined at 107.070, the May 13 low.
