Free Trial

Price Signal Summary - EUROSTOXX50 Sights Are On Key Resistance At 3492.00

OUTLOOK
  • In the equity space, S&P E-Minis are firmer this week. A volatile session last Thursday resulted in a strong bounce from 3502.00. The subsequent recovery suggests the contract has entered a corrective phase. The 20-day EMA has been breached, reinforcing a bullish theme and this has opened 3820.00, the Oct 5 high and a bull trigger. Key support lies at 3502.00.
  • The EUROSTOXX 50 futures are firmer as price extends the recovery from 3251.00, Oct 13 low. The 50-day EMA, at 3472.00 has been breached - a positive development. Attention is on; resistance at 3492.00, the Oct 6 high and bull trigger and trendline resistance drawn from the Aug 17 high, which intersects at 3504.30 today. Clearance of 3492.00 and 3504.30 would highlight a strong short-term bullish development. Initial support is at 3352.00, Oct 14 low.

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.