Free Trial

Recent activity in this index.....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Recent activity in this index highlights a clear trendline
breach late last week and this was reinforced on Monday following the sharp move
lower. Price has recovered however; a lot of work still needs to be done to
alleviate the bearish threat:
- The trendline drawn off the Aug 15 low is key. Given that it has been
breached, it now represents an important resistance. The line intersects at
3767.63 and represents a key resistance today should the index extend its recent
recovery.
- While the trendline holds, the outlook remains bearish and weakness below
yesterday's low of 3671.74 would open 3625.00, Dec 10 low and 3594.80, Dec 3
low.
- If price overcomes the resistance, all eyes will be back on 3800.00 and the
trend high of 3813.80, Jan 17 high.
- 3767.63 represents a key pivot level for now.

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.