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Free AccessMNI: PBOC Net Drains CNY216 Bln via OMO Monday
Focus Shifts To 3464.34-3466.45...>
EUROSTOXX50 TECHS: Focus Shifts To 3464.34-3466.45
*RES 4: 3636.22 Monthly High Feb 1
*RES 3: 3600.36 Low Jan 31 now resistance
*RES 2: 3566.53 Low May 18 now resistance
*RES 1: 3528.12 Low May 23 now resistance
*PREVIOUS CLOSE: 3521.76
*SUP 1: 3509.91 Bollinger band base
*SUP 2: 3486.03 100-DMA
*SUP 3: 3466.45 55-DMA
*SUP 4: 3464.35 Low Apr 25
*COMMENTARY: The sell-off from the failures ahead of 3600.36 is gathering
momentum with a dip below the 200-DMA (3518.87) Thursday. Focus now shifts to
the 3464.35-3466.45 region where the 55-DMA is located. Bears now need a close
below 3464.35 to shift initial focus to 3383.17-3399.97. Layers of resistance
are building with bulls now needing a close above 3528.12 to gain breathing room
and above 3566.53 to pressure 3600.36 once more.
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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.