Free Trial

Bullish with trendline support....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bullish with trendline support at 3431.41
*RES 4: 3532.71 1.00 Fibonacci projection of Jun 6-Jun 11 rally from Jun 14 low
*RES 3: 3525.75 Bull channel top drawn off the Jun 6 low
*RES 2: 3515.15/75 High Apr 24 major resistance
*RES 1: 3496.79 High Jun 21
*PRICE: 3444.36 @ Close June 25
*SUP 1: 3431.41 Trendline support drawn off the Jun 3 low
*SUP 2: 3418.18 High Jun 11
*SUP 3: 3363.07 Jun 14 low
*SUP 4: 3341.33 Jun 7 low
EUROSTOXX50 trend conditions remain bullish following last week's strong rally
that resulted in a move through former resistance at 3418.18. With momentum
studies still trending higher and last Tuesday's candle pattern a confirmed
standard line (continuation pattern), the prospect for fresh gains remains.
Attention is on the 3500 level with the 3515.15 Apr highs also within reach. On
the downside, trendline support lies at 3431.33.

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.