Free Trial

Sharp Sell-Off

EUROSTOXX50 TECHS
  • RES 4: 3330.54 Bear channel top drawn off the Jul 21 high
  • RES 3: 3305.77 High Oct 12 and the bull trigger
  • RES 2: 3282.55 High Oct 19
  • RES 1: 3217.96 High Oct 23 and the near term key resistance
  • PRICE: 3105.25 @ Close Oct 26
  • SUP 1: 3097.67 Low Sep 25 and the bear trigger
  • SUP 2: 3065.82 Bear channel base drawn off the Jul 21 high
  • SUP 3: 3054.11 Low June 15
  • SUP 4: 3012.50 38.2% retracement of the Mar - Jul uptrend

A bearish EUROSTOXX 50 session yesterday saw the index sell-off sharply and resume the most recent decline that started on Oct 12. Price has cleared former support at 3147.28, Oct 2 low and attention turns to the next key support handle at 3097.67, Sep 25 low. A break would reinforce bearish conditions and open 3054.11, Jun 15 low. Key near-term resistance is at 3217.96, Oct 23 high.

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.