Free Trial

Bullish Focus

EUROSTOXX50 TECHS
  • RES 4: 3315.03 Bear channel top drawn off the Jul 21 high
  • RES 3: 3305.77 High Oct 12
  • RES 2: 3282.55 High Oct 19
  • RES 1: 3224.49 High Nov 6
  • PRICE: 3204.45 @ Close Nov 6
  • SUP 1: 3167.78 Low Nov 5
  • SUP 2: 3030.89 Low Nov 3
  • SUP 3: 2920.87 Low Oct 29 and key support
  • SUP 4: 2912.96 Low May 25

The EUROSTOXX 50 near-term outlook remains bullish following last week's rally. Price traded through a key resistance highlighted by the 20- and 50-day EMAs. The clear breach of this entire zone strengthens bullish conditions and suggests scope for an extension higher, opening 3282.55 next, Oct 19 high ahead of 3305.77, Oct 12 high. Initial firm support is seen at 3030.89, Nov 3 low.

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.