Free Trial

Bullish Break *RES 4: 3400.00.....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bullish Break
*RES 4: 3400.00 Downtrend resistance from Jan 2018 high
*RES 3: 3337.20 200-dma
*RES 2: 3274.40 Low Sep 7 now resistance 
*RES 1: 3244.98 High Dec 3 
*PREVIOUS CLOSE: 3134.92 
*SUP 1: 3100.00 Pivot 
*SUP 2: 3032.87 21-dma 
*SUP 3: 2908.70 Dec 27 low 
*SUP 4: 2892.52 Aug 3 2016 Low 
Eurostoxx broke above the key 3100 level on Friday as well as down trendline
resistance form the Sep high. This has shifted the outlook bullish with the next
upside target coming in at the Dec 3 high at 3244.98 ahead of a run at the Sep 7
low now acting as resistance. Bears need to retake the 3100 level to turn the
outlook neutral and open the 21-dma. Below here would open the 3000 level ahead
of a retest of the Dec 27 low at 2908.70.

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.