Free Trial

Bulls Need Close Above 100-DMA....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bulls Need Close Above 100-DMA
*RES 4: 3501.73 55-WMA
*RES 3: 3483.42 55-DMA
*RES 2: 3480.44 High July 10
*RES 1: 3452.09 100-DMA
*PREVIOUS CLOSE: 3445.49
*SUP 1: 3418.06 Low July 12 
*SUP 2: 3389.44 Alternating daily support/resistance 
*SUP 3: 3342.46 Bollinger band base 
*SUP 4: 3340.50 Low June 27
*COMMENTARY: The recovery from June lows looks to have run its course with the
failure ahead of the 55-DMA and correcting O/B studies increasing the risk of a
correction back to the 200-WMA. Bears look for a close below the 200-WMA to
initially pressure 2018 lows. Bulls still need a close above the 100-DMA to gain
breathing room and above the 200-DMA (3513.13) to hint at a move back to 2018
highs.

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.