Free Trial

Bearish Sentiment Dominates.......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bearish Sentiment Dominates
*RES 4: 3596.20 High May 18, 2018
*RES 3: 3588.68 High Oct 1 and key resistance
*RES 2: 3516.88 High Oct 2
*RES 1: 3480.28 Low Sep 25
*PRICE: 3417.37 @ Close Oct 3
*SUP 1: 3398.64 Low Oct 3
*SUP 2: 3372.70 61.8% retracement of Aug 15 - Oct 1 rally
*SUP 3: 3356.68 Low Aug 29
*SUP 4: 3321.68 76.4% retracement of Aug 15 - Oct 1 rally
A quieter session Thursday for EUROSTOXX50 following the harp sell-off seen
Wednesday. The break of support at 3480.28, Sep 25 low and trendline support
drawn off the Aug 26 low is expected to continue weighing on sentiment. This
highlights the potential for an extension lower towards 3372.70, the 61.8%
Fibonacci retracement of the Aug 8 - Oct 1 rally. Initial resistance is at the
former 3480.28 breakout level. Still vulnerable for now.

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.