Free Trial

Fresh Trend High

EUROSTOXX50 TECHS
  • RES 4: 3926.56 1.764 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 3: 3900.30 High May 2008
  • RES 2: 3889.08 1.618 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 1: 3874.91 High Mar 18
  • PRICE: 3867.54 @ Close Mar 18
  • SUP 1: 3818.20 Low Mar 15
  • SUP 2: 3780.00 Low Mar 10
  • SUP 3: 3742.53 High Feb 15 and recent breakout level
  • SUP 4: 3656.21 Low Mar 5 and the key near-term support

EUROSTOXX 50 traded higher yesterday and bullish conditions remain intact. The breach on Mar 8 of 3742.53, Feb 15 high confirmed a resumption of the underlying uptrend. This maintains the bullish price sequence of higher highs and higher lows. The focus is on 3889.08 next, a Fibonacci projection. Initial firm support is seen at 3818.20, the Mar 15 low. A move below this level would highlight potential for a deeper pullback.

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.