Free Trial

No Respite *RES 4: 3486.31 High...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: No Respite
*RES 4: 3486.31 High Aug 10
*RES 3: 3452.41 High Sep 27
*RES 2: 3230.00 Down trendline resistance form Oct 26 high
*RES 1: 3110.37 21-dma
*PRICE: 2981.30 @ 1153GMT Dec24
*SUP 1: 2980.00 Channel bottom
*SUP 2: 2937.98 Low Nov 9 2016
*SUP 3: 2678.27 Low Jul 1 2016
*SUP 4: 2494.54 Low May 24, 2013
While Eurostoxx failed to hit new lows Monday, there's no sign of a near-term
recovery anytime soon with prices holding comfortably below the 3,000 handle.
Channel support at 2980.00 was taken out, opening the Nov 2016 low at 2937.98.
Bulls need to take out the 21-dma now at 3110.37 to improve the outlook, above
which would allow a challenge of down trendline resistance to target the Nov 8
highs at 3230.00.

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.