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Free AccessBearish Focus *RES 4: 3448.24.....>
EUROSTOXX50 TECHS: Bearish Focus
*RES 4: 3448.24 High Mar 3
*RES 3: 3394.90 High Jun 8 and the bull trigger
*RES 2: 3355.76 High Jun 10
*RES 1: 3317.87 High Jun 23 and key near-term resistance
*PRICE: 3218.91 @ Close Jun 25
*SUP 1: 3149.67 Low Jun 25
*SUP 2: 3106.48/3054.11 50-day EMA / Low Jun 15
*SUP 3: 3023.83 High Apr 30
*SUP 4: 3014.46 Bull channel base drawn off the Jun 16 low.
EUROSTOXX 50 experienced a sharp sell-off Wednesday but did manage to retrace
some losses yesterday. Recent gains between Jun 15 - 23 are likely a correction
and Tuesday's1 move lower suggests a top may have been defined at 3317.87,
Tuesday's high. Further weakness would signal scope for a test of key near-term
support at 3054.11, Jun 15 low. The index needs to break above 3317.87 to ease
the developing bearish pressure.
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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.