Free Trial

(M1) Holding Onto Gains

EUROSTOXX50 TECHS
  • RES 4: 4290.00 High Jan 14, 2008
  • RES 3: 4265.00 High Jan 15, 2008
  • RES 2: 4235.67 Bull channel top drawn off the Feb 26 low
  • RES 1: 4158.00/75.00 High Jun 15 / Low Nov 26, 2007 (cont)
  • PRICE: 4147.00 @ 05:39 BST Jun 16
  • SUP 1: 4072.94/4016.00 20-day EMA / Low May 27
  • SUP 2: 3988.18/75.54 50-day EMA / Channel base from Feb 26 low
  • SUP 3: 3882.00 Low May 19
  • SUP 4: 3844.00 Low May 13 and the bear trigger

EUROSTOXX 50 futures traded higher once again yesterday as the contract extends its climb and maintains a bullish price sequence of higher highs and higher lows. Furthermore, moving average studies also remain in bull mode, reinforcing current trend conditions. The focus is on 4175.00 next, Nov 26 2008 low. On the downside, firm trend support is unchanged at 3844.00, May 13 low. Initial support lies at 4072.94, 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.