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Free AccessEUROSTOXX50 TECHS: (U4) Resistance Is Intact For Now
- RES 4: 5132.00 High Jun 6
- RES 3: 5087.00 High Jul 12 and a key resistance
- RES 2: 5012.00 High Jul 16
- RES 1: 4865.79/4998.00 50-day EMA / High Sep 3 and a bull trigger
- PRICE: 4834.00 @ 06:19 BST Sep 13
- SUP 1: 4729.00 Low Sep 10
- SUP 2: 4686.53 61.8% retracement of the Aug 5 - Sep 3 bull cycle
- SUP 3: 4612.94 76.4% retracement of the Aug 5 - Sep 3 bull cycle
- SUP 4: 4558.00 Low Aug 6
Despite a short-term bounce, Eurostoxx 50 futures continue to trade closer to their recent lows. The latest move down has resulted in a break of both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. Initial key short-term resistance has been defined at 4998.00, the Sep 3 high. First resistance is at 4865.79, the 50-day EMA.
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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.