MNI BRIEF: EC Singles Out Energy, Digital As Draghi Priorities

MNI BRIEF: Enria Named To UK Prudential Regulation Committee

MNI BRIEF: Japan's Dec Trimmed Mean Rises 1.9% Vs. 1.7%

MNI INTERVIEW2: New NBH Chief Must Clarify Reaction Function

MNI BRIEF: U.S. Senate Confirms Bessent as Treasury Secretary

MNI NBH WATCH: Base Rate To Hold At 6.5% Despite Price Uptick

EZ/UK T-Bill Calendar: Greece, Italy Auction on Wednesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Wednesday

MNI: US CONF BOARD CONSUMER CONFIDENCE 104.1 IN JAN V DEC 98.7

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITIES: Bull Cycle in Eurostoxx 50 Futures Intact Despite Recent Pullback

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the latest pullback highlights a corrective cycle and the contract is again trading lower, today. Price has traded through the 50-day EMA, at 4897.73. A continuation lower would open 4819.33, a Fibonacci retracement. On the upside, key short-term resistance has been defined at 5014.00, the Dec 9 high. A break of this hurdle would confirm a resumption of the recent uptrend. A sharp sell-off in the S&P E-Minis contract on Wednesday highlights a possible short-term top. The move down has resulted in a breach of both the 20- and 50-day EMAs. A continuation lower would open 5811.65, a Fibonacci retracement level. Note that support at 5921.00, the Nov 19 low, has been pierced. A clear break of this level would strengthen a bearish threat. Initial resistance is at 6008.80, the 50-day EMA.

  • Japan's NIKKEI closed lower by 111.68 pts or -0.29% at 38701.9 and the TOPIX ended 11.84 pts lower or -0.44% at 2701.99.
  • Elsewhere, in China the SHANGHAI closed lower by 1.964 pts or -0.06% at 3368.069 and the HANG SENG ended 31.81 pts lower or -0.16% at 19720.7.
  • Across Europe, Germany's DAX trades lower by 222.17 pts or -1.11% at 19746.63, FTSE 100 lower by 43.46 pts or -0.54% at 8061.9, CAC 40 down 77.93 pts or -1.07% at 7216.44 and Euro Stoxx 50 down 57.27 pts or -1.17% at 4821.73.
  • Dow Jones mini down 222 pts or -0.52% at 42138, S&P 500 mini down 45.5 pts or -0.78% at 5823.25, NASDAQ mini down 243 pts or -1.15% at 20869.75.
260 words

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.

A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the latest pullback highlights a corrective cycle and the contract is again trading lower, today. Price has traded through the 50-day EMA, at 4897.73. A continuation lower would open 4819.33, a Fibonacci retracement. On the upside, key short-term resistance has been defined at 5014.00, the Dec 9 high. A break of this hurdle would confirm a resumption of the recent uptrend. A sharp sell-off in the S&P E-Minis contract on Wednesday highlights a possible short-term top. The move down has resulted in a breach of both the 20- and 50-day EMAs. A continuation lower would open 5811.65, a Fibonacci retracement level. Note that support at 5921.00, the Nov 19 low, has been pierced. A clear break of this level would strengthen a bearish threat. Initial resistance is at 6008.80, the 50-day EMA.

  • Japan's NIKKEI closed lower by 111.68 pts or -0.29% at 38701.9 and the TOPIX ended 11.84 pts lower or -0.44% at 2701.99.
  • Elsewhere, in China the SHANGHAI closed lower by 1.964 pts or -0.06% at 3368.069 and the HANG SENG ended 31.81 pts lower or -0.16% at 19720.7.
  • Across Europe, Germany's DAX trades lower by 222.17 pts or -1.11% at 19746.63, FTSE 100 lower by 43.46 pts or -0.54% at 8061.9, CAC 40 down 77.93 pts or -1.07% at 7216.44 and Euro Stoxx 50 down 57.27 pts or -1.17% at 4821.73.
  • Dow Jones mini down 222 pts or -0.52% at 42138, S&P 500 mini down 45.5 pts or -0.78% at 5823.25, NASDAQ mini down 243 pts or -1.15% at 20869.75.