Free Trial

Fresh Trend High

EUROSTOXX50 TECHS
  • RES 4: 3867.28 High Feb 20, 2020
  • RES 3: 3798.19 0.764 proj of Mar - Jul - Oct 2020 swing
  • RES 2: 3730.45 1.00 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 1: 3700.00 Round number resistance
  • PRICE: 3695.61 @ Close Feb 12
  • SUP 1: 3628.47 Low Feb 10
  • SUP 2: 3563.49 50-day EMA
  • SUP 3: 3473.76 Low Jan 28 and the bear trigger
  • SUP 4: 3455.94 Low Dec 22

EUROSTOXX 50 remains bullish with a fresh trend high registered Friday to confirm a resumption of the underlying uptrend. The focus is on 3700.00 and 3798.19 further out, a Fibonacci projection. Moving average studies remain in a bull mode reinforcing underlying conditions. On the downside, the index needs to clear support at 3473.76 to reinstate a bearish theme, the Jan 28 low. Initial support lies at 3628.47, Feb 10 low.

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.