Free Trial

No Higher Highs Yet *RES 4:.......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: No Higher Highs Yet
*RES 4: 3536.87 High Jul 31 
*RES 3: 3497.00 Down trendline resistance from Jan high 
*RES 2: 3486.31 High Aug 10 
*RES 1: 3462.81 High Aug 28 
*PREVIOUS CLOSE: 3410.44 
*SUP 1: 3337.37 Low Sep 18 
*SUP 2: 3261.86 Low Mar 26 
*SUP 3: 3214.31 Low Feb 8 2017 
*SUP 4: 3175.00 Bear channel bottom 
Eurostoxx50 was unable to close above its 55-dma yesterday as the trend of lower
highs remains intact despite the strong rally from the Sep 7 lows. Bulls need to
overcome the 55-dma to target the Aug 28 high of 3426.81. A break above here
would bring key down trendline resistance from the Jan high into play. Bears
look for a close back below the Sep 18 low at 3337.37 to return the focus to the
March 26 low at 3261.86.

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.