MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

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CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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(H4) Watching Resistance

EUROSTOXX50 TECHS
  • RES 4: 4662.90 1.236 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4636.70 76.4% retracement of the 2000 - 2009 downleg (cont)
  • RES 2: 4599.00/4634.00 High Jan 2 / High Dec 14 and the bull trigger
  • RES 1: 4536.00 High Jan 11
  • PRICE: 4496 00 @ 07:00 GMT Jan 22
  • SUP 1: 4402.00 Low Jan 17 and key short-term support
  • SUP 2: 4370.00 Low Nov 28
  • SUP 3: 4334.00 50.0% retracement of the Oct 27 - Dec 14 bull leg
  • SUP 4: 4220.00 Low Nov 10

Eurostoxx 50 futures last week breached support at the Jan 5 low of 4444.0, trading to a low of 4402.00, the Jan 17 low. The contract has since recovered and 4402.00 represents a key short-term support. A break of this level would resume bearish pressure and open 4370.00, the Nov 28 low. Initial resistance to watch is 4536.00, the Jan 11 high. Clearance of this level would highlight a potential reversal and a resumption of the primary uptrend.

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