Free Trial

Neckline In Focus *RES 4:.........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Neckline In Focus
*RES 4: 3536.87 High Jul 31, 2018 
*RES 3: 3515.15 High Apr 24 
*RES 2: 3424.45 21-dma 
*RES 1: 3396.87 High May 22 
*PRICE: 3327.20 @ Close May 23 
*SUP 1: 3315.00/3311.17 Neckline support/Low May 13 
*SUP 2: 3294.82 100-dma 
*SUP 3: 3281.79/3273.68/3271.11 Low Mar 25/Low Mar 8/200-dma 
*SUP 4: 3211.92 50% retracement 
Eurostoxx saw heavy selling pressure resume yesterday to shift the focus back to
neckline support at 3315.00 and the May 13 low at 3311.17. A downside break
would open the 100-dma just below at 3294.82 ahead of the March 25 low, March 8
low, 200-dma at 3281.79/3273.68/3271.11. To improve the outlook bulls need to
take out Wednesday's high at 3396.87 which would put the focus back the 21-dma
which sits at 3434.45. Above here would open the April 24 ytd highs at 3515.15.

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.