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Free Access(U2) Bearish Outlook
- RES 4: 3822/40.00 High Aug 17 / High Jun 6 and key resistance zone
- RES 3: 3782.00 High Aug 18
- RES 2: 3705.00 High Aug 26 and key near-term resistance
- RES 1: 3459.00/3622.2 High Sep 2 / 50-day EMA
- PRICE: 3486.00@ 05:30 BST Sep 6
- SUP 1: 3429.00 Low Sep 5
- SUP 1: 3386.00 Low Jul 15
- SUP 3: 3362.00 Low Jul 14
- SUP 4: 3343.00 Low Jul 5 and the bear trigger
EUROSTOXX 50 futures remain bearish and traded to a fresh short-term trend low yesterday. The contract has cleared 3456.00, the 76.4% retracement of the Jul 5 - Aug 17 rally. The clear break strengthens bearish conditions and exposes the key support at 3343.00, Jul 5 low. Clearance of 3343.00 would confirm a resumption of the broader downtrend. Initial resistance is seen at 3549.00, Friday's high.
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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.