Free Trial

Bullish Tone Intact

EUROSTOXX50 TECHS
  • RES 4: 3668.70 High Feb 25
  • RES 3: 3630.53 0.618 proj of Mar 16 - Jul 21 rally from Oct 29 low
  • RES 2: 3553.05 High Feb 27
  • RES 1: 3524.08 High Nov 26
  • PRICE: 3510.94 @ Close Nov 26
  • SUP 1: 3440.22 Low Nov 19
  • SUP 2: 3396.02 High Sep 3
  • SUP 3: 3290.91 Former channel top drawn off the Jul 21 high
  • SUP 4: 3305.77 High Oct 12

EUROSTOXX 50 maintains a bullish theme and continues to trade higher. The climb on Nov 9 and subsequent follow through resulted in a breach of key resistance at 3451.16, Jul 21 high. This confirmed a resumption of the broader recovery since the March lows. Also, 3498.07, 76.4% of the Feb - Mar sell-off has been breached. The clearance of this retracement exposes the 3600.00 handle. On the downside, 3396.02 remains firm support.

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.