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Free Access(M1) Uptrend Remains Intact
- RES 4: 4175.00 Low Nov 26, 2007 (cont)
- RES 3: 4140.00 High Jan 18, 2008 (cont)
- RES 2: 4099.00 1.00 proj of of the Mar - Jul - Oct 2020 price swing
- RES 1: 4059.00 High May 26
- PRICE: 4050.00 @ 05:49 BST May 25
- SUP 1: 3977.95/3882.00 50-day EMA / Low May 19
- SUP 2: 3844.00 Low May 13 and the bear trigger
- SUP 3: 3821.00 High Mar 18 and recent breakout level
- SUP 4: 3727.00 Low Mar 25
EUROSTOXX 50 futures remain bullish and the contract has traded higher this week, breaching resistance at 4036.00, May 10 high. The breach of resistance confirms a resumption of the uptrend and opens 4099.00, a Fibonacci projection. The climb also maintains the bullish price sequence of higher highs and higher lows, reinforcing the current trend condition. On the downside, firm support lies at 3882.00, May 19 low.
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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.