Free Trial

Recovery Intact

EUROSTOXX50 TECHS
  • RES 4: 3396.02 High Sep 3
  • RES 3: 3348.77 High Sep 16
  • RES 2: 3326.79 High Sep 18
  • RES 1: 3289.51 76.4% retracement of the Sep 16 - Sep 25 sell-off
  • PRICE: 3273.12 @ Close Oct 9
  • SUP 1: 3219.33 Low Oct 7
  • SUP 2: 3147.28 Low Oct 2 and key support
  • SUP 3: 3097.67 Low Sep 25 and the bear trigger
  • SUP 4: 3054.11 Low Jun 15

EUROSTOXX 50 conditions improved last week following Tuesday's break of resistance at 3227.43, Sep 28 high. Furthermore price has traded through the resistance zone defined by the 20- and 50-day EMAs. The move beyond these averages strengthens a bullish argument and opens 3289.51, a Fibonacci retracement. Initial firm support has been defined at 3147.28, Oct 2 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.