Free Trial

Uptrend Support Gives Way *RES....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Uptrend Support Gives Way
*RES 4: 3463.03 High Aug 28 
*RES 3: 3452.41 High Sep 27 
*RES 2: 3422.34 High Mar 19
*RES 1: 3377.93 High Mar 22
*PRICE: 3305.173@ Close Mar 22 
*SUP 1: 3278.49/3273.68 200-dma/Low Mar 8 
*SUP 2: 3226.12/3215.04 38.2% retracement/High Feb 6
*SUP 3: 3175.71 Low Feb 15 
*SUP 4: 3124.62 Low Feb 8 
Eurostoxx broke cleanly below uptrend support on Friday shifting the near term
outlook negative and opening the 200-dma/March 8 low at 3278.49/3273.68. Below
here would add weight to the bearish reversal case and open the 32.8%
retracement/Feb 6 high at 3226.12/3215.04. To regain control bulls need to
recover Friday's high at 3377.93 which would allow a run at the ytd high of
3422.34.

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.