Free Trial

(H4) Fresh Cycle Highs

EUROSTOXX50 TECHS
  • RES 4: 4788.1 1.764 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4753.50 1.618 projection of the Nov 8 - 24 - 28 price swing
  • RES 2: 4725.50 1.50 projection of the Nov 8 - 24 - 28 price swing
  • RES 1: 4703.00 Intraday high
  • PRICE: 4695.00 @ 08:12 GMT Feb 6
  • SUP 1: 4599.00/4586.80 High Jan 2 / 20-day EMA
  • SUP 2: 4513.70 50-day EMA
  • SUP 3: 4402.00 Low Jan 17 and key short-term support
  • SUP 4: 4370.00 Low Nov 28

Eurostoxx 50 futures remain firm and the contract has traded higher today and delivered fresh cycle highs, confirming a resumption of the current uptrend. This reinforces the bullish importance of the recent break of a key resistance at the Dec 14 high of 4634.00. A clear breach of the 4700.00 handle would pave the way for a climb towards 4725.50, a Fibonacci projection. Initial firm support lies at 4586.80, 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.