Free Trial

Trendline Support Holds *RES 4:...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Trendline Support Holds
*RES 4: 3748.12 1.000 projection of Aug 15 - Oct 1 rally from Oct 3 low
*RES 3: 3733.45 High Nov 19 and key resistance
*RES 2: 3729.74 High Dec 2
*RES 1: 3692.71 High Dec 6
*PRICE: 3671.78 @ Close Dec 10
*SUP 1: 3625.00 Low Dec 10
*SUP 2: 3621.86/3594.80 Trendline drawn off the Aug 15 low / Low Dec 3
*SUP 3: 3593.60 Low Oct 31
*SUP 4: 3571.01 Low Oct 18
EUROSTOXX50 sold off initially yesterday however price action managed to find
support close to key trendline support drawn off the Aug 15 low. The trendline
intersects at 3621.86 today. Attention for now is on initial resistance at
3692.71, Dec 6 high where a break would open 3729.74, Dec 2 high and the key
level at 3733.45, Nov 19 high. A break of the latter would confirm a resumption
of the underlying bull trend. Key support is 3621.86, the trendline.

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.