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Free AccessSupport Found Ahead of March......>
EUROSTOXX50 TECHS: Support Found Ahead of March Highs
*RES 4: 3687.22 High Jan 23, 2018
*RES 3: 3596.20 High May 18
*RES 2: 3536.87 High Jul 31
*RES 1: 3515.15 High Apr 24
*PRICE: 3462.95 @ Close May 6
*SUP 1: 3423.33/3422.34 Low May 6/High Mar 19
*SUP 2: 3412.95 Low Apr 11
*SUP 3: 3353.67 Low Apr 1
*SUP 4: 3281.79/3278.84/3273.68 Low Mar 25/200-dma/Low Mar 8
Eurostoxx broke below uptrend support from the Dec lows yesterday but found some
support just ahead of the March 19 high at 3422.34 allowing much of the weakness
to be recovered. Bulls now look to recover the 21-dma just above current levels
to return the focus to the April 24 high at 3515.15. On the downside a break
below yesterday's low/March 19 high would target the April 11 low at 3412.95.
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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.