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Free Access200-DMA Key Support *RES 4:.......>
EUROSTOXX50 TECHS: 200-DMA Key Support
*RES 4: 3591.83 1.00 projection of Jun 27-Jul 4 rally off the Jul 27 low
*RES 3: 3573.57 High Jul 25
*RES 2: 3539.94 High Jul 29
*RES 1: 3387.12 5-DMA
*PRICE: 3291.66 @ Close Aug 6
*SUP 1: 3294.412 200-DMA
*SUP 2: 3241.14/3248.54 50% of Dec 2018-July 2019 rally, Low Jun 3
*SUP 3: 3175.71 Low Feb 15
*SUP 4: 3162.68 61.8% of Dec 2018-July 2019 rally
EUROSTOXX50 briefly traded through the 200-DMA yesterday, but this level is
still crucial support. A decisive break below is seen extending sell-off to
3241.14 - the 50% of Dec 2018-July 2019 rally. Whilst the 200-DMA holds, risk of
a near-term bounce remains high as daily studies work off their oversold
readings.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.