Free Trial

Bulls Need Close Above 55-DMA.....>

EUROSTOXX50 TECHS: Bulls Need Close Above 55-DMA
*RES 4: 3540.03 High May 28 
*RES 3: 3536.33 21-DMA 
*RES 2: 3470.74 55-DMA
*RES 1: 3455.15 High May 31
*SUP 1: 3383.17 Alternating daily support/resistance 
*SUP 2: 3372.87 100-WMA 
*SUP 3: 3313.50 200-WMA 
*SUP 4: 3300.50 Low Apr 4
*COMMENTARY: The sell-off from the failures ahead of 3600.36 gained traction
below the 55-DMA with immediate focus now on 3372.87-3383.67 where the 100-WMA
is located. Bears need a close below the 100-WMA to add weight to the case for a
test of 3261.86-3313.50 where 2018 lows and the 200-WMA are located. Bulls still
look for a close above the 55-DMA to ease bearish pressure and above 3566.53 to
pressure 3600.36 once more.

To read the full story

Why Subscribe to


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.