Free Trial

Approaching Key Resistance

EUROSTOXX50 TECHS
  • RES 4: 3700.00 Round number resistance
  • RES 3: 3668.70 High Feb 25
  • RES 2: 3657.83 High Jan 8 and the bull trigger
  • RES 1: 3644.64 High Feb 4
  • PRICE: 3642.12 @ Close Feb 4
  • SUP 1: 3545.09 Low Feb 2
  • SUP 2: 3473.76 Low Jan 28 and the bear trigger
  • SUP 3: 3455.94 Low Dec 22
  • SUP 4: 3401.14 Low Dec 21 and a key support

EUROSTOXX 50 has rebounded this week and defined a key short-term support at 3473.76, Jan 28 low. The extension of this week's recovery has opened the key resistance and the bull trigger at 3657.83, Jan 8 high. A break of this level would confirm a resumption of the underlying uptrend and open the 3700.00 handle. For bears, the index needs to clear support at 3473.76 to reinstate a bearish theme. This would open 3401.14.

To read the full story

Close

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.