S&P approached yday a key ST support and bounced on this level. Following this p[rice action,we believe that a VST bottom may have been reach. Even if the overall MT trend remains in our opinion negative,we favour to play a rebound on an intra-day basis.
ESTOXX Z3 (ref. 4161): The contract bounced yday three times on the 4140 support as the 60-min RSI touched its oversold area. It then escaped on the upside from a VST descending channel in place since Monday. Following this price action, we favour to play a rebound with 4175 then 4200 in sight.
Supports: 4140 - 4125 - 4100 - 4065
Resistances: 4175 - 4200 - 4210 - 4241
![](https://assets-global.website-files.com/645ec4f850427b533799c925/65142f8a149195c2c6cd7716_220230927_VGZ3_60MIN.png)
S&P Z3 (ref. 4329): The contract went down yday as it even went through the lower nd of a VST descending channel in place since Thursday. Nevertheless, it bottomed out a touch above the 4300 significant MT support as the 60-min RSI was oversold. We therefore favour to play a recovery with in penetration of 4338, 4367 in sight. Immediate support now lies @ 4316.
Supports: 4316 - 4300 - 4260 - 4250
Resistances: 4338 - 4367 - 4384 - 4400
![](https://assets-global.website-files.com/645ec4f850427b533799c925/65142f93def24b1de7749a6a_220230927_ESZ3_60MIN.png)
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About the Author: Letheuil Fabien
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