Free Trial

Consolidates But Remains..........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Consolidates But Remains Bearish
*RES 4: 3214.20 High Mar 9
*RES 3: 3088.57 High Mar 10
*RES 2: 2883.25 High Mar 12
*RES 1: 2557.71 High Mar 16
*PRICE: 2454.08 @ Close Mar 19
*SUP 1: 2302.84 Low Mar 16
*SUP 2: 2261.51 76.4% retracement of the 2009 - 2020 climb
*SUP 3: 2142.46 Low Jul 2012
*SUP 4: 2050.16 Low Jun 2012
EUROSTOXX 50 has found time to consolidate but remains bearish. The index has
retraced the entire bullish phase that prevailed between Sep 2012 and the Feb
high this year. Furthermore, it has breached its key long-term trendline support
at 2515.25. The trendline is drawn off the 2009 low. This represents a major
break and reinforces the current bearish cycle. Attention is on 2261.51, 76.4%
of the 2009 - 2020 climb. Monday's high of 2557.71 is the initial resistance.

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.