Free Trial

Layers of Resistance..............>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Layers of Resistance 3436.39-3476.21 Key
*RES 4: 3476.21 High Feb 27 
*RES 3: 3441.09 Hourly support Feb 28 now resistance 
*RES 2: 3436.39 Daily Bear channel top off 2018 high 
*RES 1: 3420.59 Alternating hourly support/resistance
*PREVIOUS CLOSE: 3413.28
*SUP 1: 3390.81 High Mar 6 now support 
*SUP 2: 3354.61 Hourly support Mar 7 
*SUP 3: 3312.66 Bollinger band base 
*SUP 4: 3306.66 2018 Low Feb 9
*COMMENTARY: The recovery from the failed attempt to take out 2018 lows left a
double daily bottom in place with focus now on 3436.39-3476.21 where the bear
channel to is noted. Bulls still need a close above 3476.21 to shift initial
focus to key DMAs 3510.31-3570.95. Support layers are now building with bears
needing a close below the 200-WMA (3298.41) to target 2017 lows (3214.31) and
then the bear channel base (3155.08).

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.