Free Trial

(H4) Approaching The Bull Trigger

EUROSTOXX50 TECHS
  • RES 4: 4700.00 Round number resistance
  • RES 3: 4662.90 1.236 projection of the Nov 8 - 24 - 28 price swing
  • RES 2: 4636.70 76.4% retracement of the 2000 - 2009 downleg (cont)
  • RES 1: 4619.00 High Jan 25
  • PRICE: 4580 00 @ 06:16 GMT Jan 25
  • SUP 1: 4508.80 20-day EMA
  • SUP 2: 4402.00 Low Jan 17 and key short-term support
  • SUP 3: 4370.00 Low Nov 28
  • SUP 4: 4334.00 50.0% retracement of the Oct 27 - Dec 14 bull leg

Eurostoxx 50 futures have recovered this week from 4402.00, the Jan 17 low. 4402.00 represents a key short-term support. A break of this level would resume recent bearish pressure and open 4370.00, the Nov 28 low. On the upside, key resistance is at 4634.00, the Dec 14 high. Clearance of this level would confirm a resumption of the medium-term uptrend and open 4662.90, a Fibonacci projection. Initial support lies at 4508.80, the 20-day EMA.

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.