Free Trial

(M2) Consolidation Mode

EUROSTOXX50 TECHS
  • RES 4: 4189.00 High Feb 1
  • RES 3: 4132.00 High Feb 10
  • RES 2: 4072.00 High Feb 16
  • RES 1: 3944.00/3965.50 High Mar 29 / High Feb 23
  • PRICE: 3811.00 @ 05:30 BST Apr 6
  • SUP 1: 3735.00/3555.50 Low Mar 18 / Low Mar 15
  • SUP 2: 3455.00 Low Mar 9
  • SUP 3: 3441.50 Low Mar 7 and the bear trigger
  • SUP 4: 3379.00 Low Dec 21 2020 (cont)

EUROSTOXX 50 futures are consolidating but remain in an uptrend. The contract recently traded above the 50-day EMA. This average represents an important resistance - at 3860.10 today - and a clear break would confirm a resumption of the bull cycle that started Mar 7. The move higher last week also confirmed a bull flag breakout on the daily chart. The focus is on 3965.50, Feb 23 high. Initial support is at 3735.00.

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.