Free Trial

Recent Highs Remain Intact

EUROSTOXX50 TECHS
  • RES 4: 4150.66 High Jan 17, 2008
  • RES 3: 4110.24 High Jan 18, 2008
  • RES 2: 4047.72 2.236 proj of Dec 21 - Jan 8 rally from Jan 28 low
  • RES 1: 4040.88 High Apr 19
  • PRICE: 4013.34 @ Close Apr 23
  • SUP 1: 3935.83 Low Apr 22
  • SUP 2: 3910.90 Low Mar 31
  • SUP 3: 3850.42 50-day EMA
  • SUP 4: 3841.46 Low Mar 26

EUROSTOXX 50 gains found resistance last week and a sharp sell-off dominated the Apr 20 session. The trend condition is overbought and a short-term corrective pullback would allow the overbought reading to unwind. The 20-day EMA has been tested. A clear break would signal scope for a deeper sell-off and expose the 50-day EMA at 3836.79. For bulls, the trend remains up. A break of 4040.88, Apr 19 high would resume the uptrend.

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.