Free Trial

(H4) Northbound

EUROSTOXX50 TECHS
  • RES 4: 4939.30 2.382 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4904.40 2.236 projection of the Nov 8 - 24 - 28 price swing
  • RES 2: 4848.00 2.00 projection of the Nov 8 - 24 - 28 price swing
  • RES 1: 4800.00 Round number resistance
  • PRICE: 4772.00 @ 08:11 GMT Feb 20
  • SUP 1: 4664.80 20-day EMA
  • SUP 2: 4572.00 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 in a bull cycle. The contract has resumed its uptrend and traded to a fresh cycle high. This reinforces current conditions and the importance of the recent break of resistance at 4634.00, the Dec 14 high. Moving average studies are in a bull-mode position, highlighting positive market sentiment. Sights are on 4800.00 and 4848.00, a Fibonacci projection. Initial firm support lies at 4664.80, 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.