Free Trial

Bears In Control *RES 4:..........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bears In Control
*RES 4: 3486.31 High Aug 10 
*RES 3: 3452.41 High Sep 27 
*RES 2: 3230.00 Down trendline resistance form Oct 26 high 
*RES 1: 3132.08 21-dma 
*PREVIOUS CLOSE: 3092.60
*SUP 1: 3000.00 Support 
*SUP 2: 2984.48 Low Dec 2 2016 
*SUP 3: 2678.27 Low Jul 1 2016 
*SUP 4: 2494.54 Low May 24, 2013 
Eurostoxx dropped back below 3100 on Friday shifting the near-term outlook back
to negative as bears look to challenge the 3000 level. Below here would open the
Dec 2016 lows at 2984.48, further strengthening the medium-term bearish case.
Bulls need to take out the 21-dma at 3132.08, above which would allow a
challenge of down trendline resistance to target the Nov 8 highs at 3230.00. 

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.