Free Trial

Topside Follow Through Lacking....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Topside Follow Through Lacking
*RES 4: 3540.03 High May 28 
*RES 3: 3528.87 21-DMA 
*RES 2: 3519.18 200-DMA
*RES 1: 3490.50 Hourly resistance May 28
*PREVIOUS CLOSE: 3469.57
*SUP 1: 3463.33 Low June 4 
*SUP 2: 3446.30 Hourly support June 1 
*SUP 3: 3420.84 Low June 1 
*SUP 4: 3383.17 Alternating daily support/resistance
*COMMENTARY: Bulls take comfort in gains to start the new week although failure
to close above 55 (3472.88) & 100 (3476.70) DMAs is less than ideal. In saying
that, correcting O/S studies add support to the bullish case for a move back to
3519.18-3540.03 where 21 & 200-DMAs are noted. Initial support is noted at
3463.33 but bears need a close below 3446.30 to ease renewed bullish pressure
and return focus to 3383.17.

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.