Free Trial

Finds Resistance *RES 4:..........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Finds Resistance
*RES 4: 3748.12 1.000 projection of Aug 15 - Oct 1 rally from Oct 3 low
*RES 3: 3733.45 High Nov 19 and key resistance
*RES 2: 3729.74 High Dec 2
*RES 1: 3692.71 High Dec 6
*PRICE: 3672.18 @ Close Dec 9
*SUP 1: 3648.13 Low Dec 5
*SUP 2: 3617.30/3594.80 Trendline drawn off the Aug 15 low / Low Dec 3
*SUP 3: 3593.60 Low Oct 31
*SUP 4: 3571.01 Low Oct 18
EUROSTOXX50 rallied Friday to maintain the recovery off the Dec 3 low of 3594.80
however, some selling pressure surfaced yesterday. Attention for now is on
resistance at 3729.74, Dec 2 high and the key level at 3733.45, Nov 19 high. A
break of the latter would confirm a resumption of the underlying bull trend. A
failure to hold onto recent highs and a move lower though would turn attention
to the trendline support at 3617.30 and key support at 3594.80, low Dec 3.

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.