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Free AccessShooting Star *RES 4: 3836.28.....>
EUROSTOXX50 TECHS: Shooting Star
*RES 4: 3836.28 High Oct 13, 2015
*RES 3: 3830.60 1.236 projection of Aug 15 - Oct 1 rally from Oct 3 low
*RES 2: 3748.12 1.000 projection of Aug 15 - Oct 1 rally from Oct 3 low
*RES 1: 3733.45 High Nov 19
*PRICE: 3696.56 @ Close Nov 19
*SUP 1: 3679.63 Low Nov 13
*SUP 2: 3637.94 High Oct 28 and former breakout point
*SUP 3: 3593.60 Low Oct 31
*SUP 4: 3571.01 Low Oct 18 and key support
EUROSTOXX50 pushed higher yesterday, however prices did fail at the day high
resulting in a close near session lows. In candle terms, yesterday's pattern is
a shooting star (inverted hammer) and signals potential waning momentum. Whether
this marks a top will depend on initial support at 3679.63, Nov 13 low. A break
would highlight a short term bearish threat and expose support at 3627.94.
Yesterday's 3733.45 high is the trigger for a resumption of gains.
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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.