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Clears Bear Channel Base

EUROSTOXX50 TECHS
  • RES 4: 3231.80 50-day EMA
  • RES 3: 3217.96 High Oct 23 and the near term key resistance
  • RES 2: 3135.48 Low Oct 22
  • RES 1: 3064.10 Bear channel base drawn off the Jul 21 high
  • PRICE: 2968.67 @ 13:51 GMT Oct 28
  • SUP 1: 2954.05 Intraday low
  • SUP 2: 2912.96 Low May 25
  • SUP 3: 2877.00 50.0% retracement of the Mar - Jul uptrend
  • SUP 4: 2854.07 Low May 22

A bearish EUROSTOXX 50 session has once again dominated today in line a general risk-off market mood. The index has cleared a key support today at 3064.10, the base of a bear channel drawn off the Jul 21 low. This follows a breach Tuesday of key support at 3097.67, Sep 25 low. The focus turns to 2877.00 next, the 50% retracement of the Mar - Jul rally. Initial resistance is at 3064.10, the former channel base. Heavy!

Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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