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Free AccessDeadcat Bounce *RES 4: 3486.31....>
EUROSTOXX50 TECHS: Deadcat Bounce
*RES 4: 3486.31 High Aug 10
*RES 3: 3452.41 High Sep 27
*RES 2: 3230.00 Down trendline resistance form Oct 26 high
*RES 1: 3110.37 21-dma
*PRICE: 2994.93 @ 14:59 GMT Dec28
*SUP 1: 2892.52 Aug3 2016 Low
*SUP 2: 2847.54 3% Lower Bollinger Band
*SUP 3: 2678.27 Low Jul 1 2016
*SUP 4: 2494.54 Low May 24, 2013
Prices bounced from the cycle lows printed Thursday but remain well off staging
a more substantial recovery. To repair the damage here, prices need to first top
the 21-dma before eyeing 3128, the mid-December high - which looks pretty
unrealistic in the coming few weeks. The recent fall took out both the channel
bottom and Nov 2016 lows, leaving little near-term support heading into the new
year.
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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.