Free Trial

(H2) Reverses Course

EUROSTOXX50 TECHS
  • RES 4: 4426.80 1.382 proj of the Nov 30 - Dec 8 - 20 price swing
  • RES 3: 4400.00 Round number resistance
  • RES 2: 4392.50 High Nov 18
  • RES 1: 4381.50 High Jan 5
  • PRICE: 4288.50 @ 05:50 GMT Jan 6
  • SUP 1: 4249.50 20-day EMA
  • SUP 2: 4216.00 50-day EMA
  • SUP 2: 4149.00 Low Dec 22
  • SUP 4: 4108.50 Low Dec 21

EUROSTOXX 50 futures have reversed course as a risk-off mood weighs on price. From a technical standpoint, the pullback at this stage is considered corrective following a strong recovery between Dec 20 and yesterday’s high. Initial support is seen at 4249.50, the 20-day EMA. A more important area of support however lies at 4216.00, the 50-day EMA. For bulls, a return higher would refocus attention on key resistance at 4392.50.

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.