Free Trial

Correcting *RES 4: 3816.32 High...>

*RES 4: 3816.32 High Apr 15, 2015
*RES 3: 3801.38 High Apr 16, 2015
*RES 2: 3782.29 High Apr 27, 2015
*RES 1: 3778.47 High Dec 16
*PRICE: 3739.17 @ Close Dec 19
*SUP 1: 3720.65 Low Dec 13
*SUP 2: 3659.53 Low Dec 11
*SUP 3: 3653.74/3625.00 Trendline drawn off the Aug 15 low / Low Dec 10
*SUP 4: 3594.80 Low Dec 3 and bear trigger
EUROSTOXX50 has pulled back this week, a move that is considered corrective. The
outlook is bullish. This condition has been reinforced this month by failed
attempts to clear trendline support drawn off the Aug 15 low and a move above
3733.45, Nov 19 high confirming a resumption of the uptrend. The focus is on
3801.38, Apr 16 2015 high and 3836.28, Apr 13 2015 high. A break of the latter
would mark an important technical break. Support is 3720.65.

To read the full story



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.