EUR50 Wave Analysis – 22 September, 2022

• EUR50 reversed from support area

• Likely to rise to resistance level 3535.0

EUR50 index recently reversed up from the support area located between the long-term support level 3420.00 (which stopped all previous downward impulses from March) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the C-wave of the medium-term ABC correction (B) from the middle of August.

EUR50 index can be expected to rise further toward the next resistance level 3535.0 (earlier minor reversal pivot from the middle of September).