Free Trial

Holding above the 200-DMA *RES....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Holding above the 200-DMA
*RES 4: 3435.80 50-day EMA
*RES 3: 3428.35 50.0% retracement of the Jul 25-Aug 7 decline
*RES 2: 3394.08 38.2% retracement of the Jul 25-Aug 7 decline
*RES 1: 3375.38 High Aug 8
*PRICE: 3333.74 @ Close Aug 9
*SUP 1: 3297.14 200-DMA
*SUP 2: 3283.13 Low Aug 7 and key support
*SUP 3: 3248.54 Low Jun 3
*SUP 4: 3162.68 61.8% of Dec 2018-July 2019 rally
EUROSTOXX50 remains vulnerable but has recently found support at the 200-DMA.
For a stronger correction, price action needs to clear resistance at 3375.38,
the Aug 8 high. This would open 3394.08 and 3428.35, the 38.2% and 50.0%
retracement levels of the Jul 25-Aug 7 decline respectively. Key support has
been defined at 3283.13, the Aug 7 low where a break would instead mark a
resumption of the recent selling pressure and open 3248.54.

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.