Free Trial

Topside Hesitation Taking Its.....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Topside Hesitation Taking Its Toll 
*RES 4: 3642.10 Low Nov 8 now resistance 
*RES 3: 3620.01 High Nov 10 
*RES 2: 3601.30 55-DMA 
*RES 1: 3581.05 Hourly resistance Dec 14
*PREVIOUS CLOSE: 3556.22
*SUP 1: 3531.17 Weekly Bull channel base (Off July 2016 low) 
*SUP 2: 3530.59 200-DMA 
*SUP 3: 3519.35 Low Dec 7 
*SUP 4: 3497.29 High Aug 16 now support
*COMMENTARY: The lack of topside follow through above the 55-DMA has taken its
toll with the index remaining heavy and focus having returned to the lower end
of the defining 3519.35-3620.01 range. Bears need a close below 3519.35 to
confirm breaks of key supports and below 3497.29 to target the bear channel base
(3439.76). Bulls now need a close above the 55-DMA to hint at a move back to Nov
highs with above 3642.10 to confirm.

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.