Free Trial

Trendline support cleared *RES....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Trendline support cleared
*RES 4: 3600.00 Round number resistance
*RES 3: 3558.40 1.00 projection of Jun 14-Jun 21 rally from Jun 27 low
*RES 2: 3549.26 High Jul 4 and key bull trigger
*RES 1: 3538.12 Trendline support now resistance drawn off low of Jun 3
*PRICE: 3509.75 @ Close Jul 9
*SUP 1: 3492.18 Low Jul 9
*SUP 2: 3476.08 Low Jul 1
*SUP 3: 3442.39 Low Jul 28
*SUP 4: 3434.38 38.2 retracement of the rally from Jun 3-Jul 4
EUROSTOXX50 remains below last Friday's high and has breached trendline support
drawn off the Jun 3 low. This suggests scope for a deeper corrective pullback. A
move below yesterday's low of 3492.18 would open 3476.08 next, the low of Jul 1.
The 38.2% retracement of the Jun 3-Jul 4 rally is at 3434.38. Trendline support
now resistance intersects at 3538.12 today. A move back above this level is
required to reinstate the broader bullish outlook.

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.