Free Trial

TECHS: 55-DMA Holds For Now.......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: TECHS: 55-DMA Holds For Now
*RES 4: 3596.20 High May 18 
*RES 3: 3536.87 High Jul 31 
*RES 2: 3515.15 High Apr 24 
*RES 1: 3469.36 21-dma 
*PRICE: 3417.26 @ Close May 8 
*SUP 1: 3384.29 55-dma 
*SUP 2: 3281.79/3278.87/3273.68 Low Mar 25/200-dma/Low Mar 8 
*SUP 3: 3256.24 100-dma 
*SUP 4: 3211.92 50% retracement 
Eurostoxx extended their drop yesterday before finding some support at the
55-dma which comes in at 3384.29. The recovery has lacked impulse suggesting
downside focus remains. Below the 55-dma would bring the key March 25 low,
200-dma, and March 8 low into play at 3281.79/3278.87/3273.68. Bulls look to
recover the 21-dma at 3469.36 to return the focus to the April 24 high at
3515.15.

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.