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COMMODITIES

Is The Rally on Copper Over?

EGB OPTIONS

Bund July Call Buyer

GILT AUCTION RESULTS

DMO sells GBP2bln of the 1.25% Jul-51 Gilt

MNI EXCLUSIVE

Timeline For Approval Of Plans On NGEU Aid

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  • RES 4: 4200.00 Round number resistance
  • RES 3: 4099.00 1.00 proj of of the Mar - Jul - Oct 2020 price swing
  • RES 2: 4023.00 Low Aug 16, 2007
  • RES 1: 4000.00 High Apr 16, intraday high and the bull trigger
  • PRICE: 3998.00 @ 05:48 BST May 7
  • SUP 1: 3882.00 Low May 4 and key support
  • SUP 2: 3859.34 50-day EMA
  • SUP 3: 3821.00 High Mar 18 and recent breakout level
  • SUP 4: 3788.00 Low Mar 26

EUROSTOXX 50 futures are trading at the week's high and against key resistance at 4000.00, Apr 16 high and the bull trigger. A breach of this hurdle would confirm the end of a recent shallow correction and importantly a resumption of the underlying uptrend. This would open 4023.00, Aug 16 low, 2007. On the downside, a key support has been defined at 3882.00, May 4 low. A break would signal a top and the start of a deeper correction.