Free Trial

(M3) Key Resistance Exposed

EUROSTOXX50 TECHS
  • RES 4: 4457.50 0.5 proj of the Mar 20 - Apr 21 - May 4 price swing
  • RES 3: 4448.00 High Jan 2008 (cont)
  • RES 2: 4409.50 High Nov 18 2021 (cont) and a major resistance
  • RES 1: 4389.00 High Jun 14
  • PRICE: 4372.00 @ 05:46 BST Jun 15
  • SUP 1: 4314.80/4285.30 20- and 50-day EMA values
  • SUP 2: 4216.00 Low May 31 and the bear trigger
  • SUP 3: 4200.00 Round number support
  • SUP 4: 4175.00 Low Mar 30

Eurostoxx 50 futures traded higher Wednesday and are trading just off the recent highs. Resistance at 4362.00, the May 29 high has been cleared. This is a bullish development and signals scope for an extension higher towards key resistance at 4409.50, the Nov 18 2021 high on the continuation chart. Clearance of this hurdle would represent an important bullish development. Initial support to watch is at 4285.30, the 50-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.