Free Trial

Sideways Trading Continues *RES...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Sideways Trading Continues
*RES 4: 3636.22 Monthly High Feb 1 
*RES 3: 3600.36 Low Jan 31 now resistance 
*RES 2: 3594.19 Bollinger band top 
*RES 1: 3574.09 High May 19
*PREVIOUS CLOSE: 3562.85
*SUP 1: 3549.26 Low May 10 
*SUP 2: 3540.14 Low May 7 
*SUP 3: 3523.00 Low May 3 
*SUP 4: 3516.41 200-DMA
*COMMENTARY: Follow through has been lacking on the break of 3570.95 but bulls
take comfort in support emerging on dips. Bears continue to look for a close
below 3540.14 to gain breathing room and below the 200-DMA to target a
correction back to 3464.35. Daily studies lingering at O/B levels is less than
ideal. In saying that, bulls look for a close above 3600.36 to reconfirm focus
on 2018 highs.

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.