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Free AccessConsolidating Near The 50-day.....>
EUROSTOXX50 TECHS: Consolidating Near The 50-day EMA
*RES 4: 3214.20 High Mar 9
*RES 3: 3085.06 50.0% retracement of the Feb - Mar sell-off
*RES 2: 3023.83 High Apr 30 and the bull trigger
*RES 1: 2946.47 High May 20
*PRICE: 2904.98 @ Close May 21
*SUP 1: 2800.07 Low May 18
*SUP 2: 2708.07 Low May 14
*SUP 3: 2701.86 Low Apr 6
*SUP 4: 2663.33 50.0% retracement of the rally between Mar 16 - Apr 30
EUROSTOXX 50 is consolidating. The recent rally has defined a key near-term
support at 2708.07, May 14 low. The move from this low has for now, offset
recent bearish threats and attention is on resistance at 2927.26, May 11 high
and 2938.02, the 50-day EMA. This zone has been probed this week, a clear break
would reinforce S/T bullish conditions opening 3023.83, Apr 30 high. A move
below 2708.07, May 14 low is required to reinstate a bearish theme.
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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.