Free Trial

Bears Look To Test Oct 26 Lows ...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bears Look To Test Oct 26 Lows 
*RES 4: 3536.87 High Jul 31 
*RES 3: 3486.31 High Aug 10 
*RES 2: 3452.41 High Sep 27 
*RES 1: 3263.72 High Nov 8 
*PREVIOUS CLOSE: 3116.07 
*SUP 1: 3090.85 Low Oct 26 
*SUP 2: 3050.00 Up trendline support from 2012 low 
*SUP 3: 2984.48 Low Dec 2 2016 
*SUP 4: 2678.27 Low Jul 1 2016 
Bears continue to target the Oct 26 low at 3090.85 which lies just below
yesterday's low. A break below here would open up trendline support from the
2012 low which comes in around 3050, shifting the bigger picture outlook
decidedly bearish. Bulls need to recover the 3200 level to shift the outlook
neutral and target the Nov 8 high at 3263.73. Above here would trigger an
inverse head-and-shoulder pattern.

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.