Free Trial

Support Lacking *RES 4: 3486.31...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Support Lacking
*RES 4: 3486.31 High Aug 10
*RES 3: 3452.41 High Sep 27
*RES 2: 3230.00 Down trendline resistance form Oct 26 high
*RES 1: 3110.37 21-dma
*PRICE: 2920.69 @ 15:35 GMT Dec27
*SUP 1: 2892.52 Aug3 2016 Low
*SUP 2: 2847.54 3% Lower Bollinger Band
*SUP 3: 2678.27 Low Jul 1 2016
*SUP 4: 2494.54 Low May 24, 2013
Another day, another cycle low printed in Eurostoxx, with the index touching
multi-year lows Thursday. The fall took out both the channel bottom and Nov 2016
lows, leaving little near-term support heading into the new year. Bulls need to
take out the 21-dma now at 3110.37 to improve the outlook, above which would
allow a challenge of down trendline resistance to target the Nov 8 highs at
3230.00.

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.