Free Trial

Still Under Pressure *RES 4:......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Still Under Pressure
*RES 4: 3668.70 High Feb 25
*RES 3: 3595.80 High Feb 26
*RES 2: 3553.05 High Feb 27
*RES 1: 3431.52 High Feb 28
*PRICE: 3338.83 @ Close Mar 2
*SUP 1: 3257.99 Low Mar 3
*SUP 2: 3239.20 Low Aug 16 and a key support
*SUP 3: 3175.71 Low Feb 15, 2019
*SUP 4: 3134.92 76.4% retracement of the Dec 2018 - Feb 2020 rally
EUROSTOXX 50, remains heavy and was weaker again yesterday. In just 8 trading
sessions, the index has managed to retrace almost the entire recovery between
Aug 8 and Feb 20. This market along with equity indices in general, is likely to
remain heavy. Note though that at current levels, the index is extremely
oversold and the risk of a sharp spike or S/T reversal has increased. For now,
weakness dominates with the focus on 3239.20 next, Aug 12 key support.

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.