Free Trial

Bears Need Close Below 200-DMA....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bears Need Close Below 200-DMA
*RES 4: 3636.22 Monthly High Feb 1 
*RES 3: 3600.36 Low Jan 31 now resistance 
*RES 2: 3566.53 Low May 18 now resistance 
*RES 1: 3552.59 21-DMA
*PREVIOUS CLOSE: 3541.82
*SUP 1: 3523.00 Low May 3 
*SUP 2: 3518.43 200-DMA 
*SUP 3: 3501.11 Bollinger band base 
*SUP 4: 3485.72 100-DMA
*COMMENTARY: Hesitation ahead of 3600.36 has taken its toll with a sharp
sell-off and close below supports that sees immediate focus back on the 200-DMA.
Bears now need a close below the 200-DMA to end bullish hopes and shift focus
back to 3463.47-3464.35 where the 55-DMA is situated. Layers of resistance have
been left in the wake with bulls needing a close above the 21-DMA to gain
breathing room.

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.