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Why MNI
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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.
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(U1) Bearish Breakout
- RES 4: 4175.00 Nov 26, 2008 low (cont)
- RES 3: 4153.00 High Jun 17 and bull trigger
- RES 2: 4121.00 High Jun 25
- RES 1: 4101.50 High Jul 1
- PRICE: 4001.50 @ 09:49 BST Jul 8
- SUP 1: 3990.50 Intraday low
- SUP 2: 3976.00 Low May 21
- SUP 3: 3914.00 Low May 20
- SUP 4: 3871.00 Low May 19
EUROSTOXX 50 futures have sold off sharply this morning. Importantly, the contract has traded through a key near-term support at 4015.00, Jun 21 low. The break lower strengthens a short-term bearish case and reinforces the reversal highlighted by the bearish engulfing candle line on Jun 21. Note price has also traded through the 50-day EMA and 4000.00. This opens 3914.00, the May 20 low. Initial resistance is seen at 4101.50, high Jul 1.
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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.