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Free AccessReversal Off The High *RES 4:.....>
EUROSTOXX50 TECHS: Reversal Off The High
*RES 4: 3646.43 1.000 projection of Aug 15 - 22 rally from Sep 25 low
*RES 3: 3636.22 High Feb 1, 2018
*RES 2: 3596.20 High May 18, 2018
*RES 1: 3588.68 High Oct 1
*PRICE: 3518.25 @ Close Oct 1
*SUP 1: 3517.09 Trendline support drawn off the Aug 26 low
*SUP 2: 3480.28 Low Sep 25 and key support
*SUP 3: 3479.58 Low Sep 10
*SUP 4: 3455.18 38.2% retracement of Aug 15 - Oct 1 rally
What a difference a day makes! EUROSTOXX50 traded higher yesterday to a fresh
trend high of 3588.68 and just above the 3586.16 Fibonacci projection. Heavy
selling pressure however followed and the market closed at the day low to
confirm a bearish engulfing reversal candle formation. This warns of a top and
the focus now shifts to key support at 3480.28, low Sep 25. A break would
confirm a reversal. Key resistance for a bull trend resumption is at 3588.68.
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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.