Free Trial

(Z1) Heading North

EUROSTOXX50 TECHS
  • RES 4: 4448.00 High Jan 2, 2008 (cont)
  • RES 3: 4400.00 Round number resistance
  • RES 2: 4371.00 1.236 proj of Jul 19-Sep 6-Oct 6 2020 swing (cont)
  • RES 1: 4367.00 High Nov 5
  • PRICE: 4332.50 @ 05:51 GMT Nov 9
  • SUP 1: 4223.50 High Sep 6 and a recent breakout level
  • SUP 2: 4166.40 50-day EMA
  • SUP 3: 4004.00 / 3949.50 Low Oct 12 / Low Oct 6 and bear trigger
  • SUP 4: 3902.50 Low Jul 20

EUROSTOXX 50 futures uptrend remains intact and price has settled close to recent highs. The recent breach of a former key resistance at 4223.00, Sep 6 high and a key bull trigger strengthens the bullish theme. The break confirmed a resumption of the underlying uptrend and attention is on 4371.00 next, a Fibonacci projection. On the downside, the 50-day EMA, at 4166.40, remains a key support. A break is required to signal a potential top.

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.