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EUROSTOXX50 TECHS: Immediate Focus Remains On Channel Top
*RES 4: 3786.36 Low Apr 15 2015 now resistance
*RES 3: 3782.29 High Apr 27 2015
*RES 2: 3727.34 Daily Bull channel top
*RES 1: 3714.26 Monthly High July 20 2015
*PREVIOUS CLOSE: 3697.40
*SUP 1: 3696.86 Hourly support Nov 1
*SUP 2: 3669.94 Hourly support Oct 31
*SUP 3: 3655.10 Hourly support Oct 30
*SUP 4: 3639.81 High Oct 26 now support
*COMMENTARY: Fresh 2017 and 2+ year highs continue and add support to the
bullish case targeting a test of 3714.26-3727.34 where the daily bull channel
top is situated. The Bollinger top (3674.92) remains the key concern for bulls
and hints the move is a little ahead of itself. Layers of support continue to
build with bears now needing a close below 3669.94 to ease bullish pressure and
shift focus back to 3625.87-3639.81.
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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.