Free Trial

Bears Keep The Pressure On *RES...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bears Keep The Pressure On
*RES 4: 3490.00 Down trendline resistance from Jan high 
*RES 3: 3486.31 High Aug 10 
*RES 2: 3462.81 High Aug 28 
*RES 1: 3282.22 High Oct 17 
*PREVIOUS CLOSE: 3190.09 
*SUP 1: 3180.61 Low Oct 15 
*SUP 2: 3150.00 Bear channel bottom 
*SUP 3: 3030.00 Up trendline support from 2012 low 
*SUP 4: 2984.48 Low Dec 2 2016 
Eurostoxx50 rallied at the open yesterday before erasing all its gains and more
to keep the pressure on the Oct 15 low at 3180.61. Below here opens the bear
channel bottom at 3150 ahead of up trendline support from the 2012 lows. Bulls
need to recover the Oct 17 high at 3282.22 to shift the outlook neutral, while a
break back above 3462.81 is needed to suggest a bullish reversal is in play. 

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.