Free Trial

(Z2) Watching Trendline Resistance

EUROSTOXX50 TECHS
  • RES 4: 3678.00 High Sep 13 and a key resistance
  • RES 3: 3585.00 High Sep 14
  • RES 2: 3533.00 High Sep 20
  • RES 1: 3509.00 High Oct 18
  • PRICE: 3449.00 @ 05:47 BST Oct 20
  • SUP 1: 3352.00 Low Oct 14
  • SUP 2: 3251.00/3236.00 Low Oct 13 / 3 and a key support zone
  • SUP 3: 3305.00 Low Oct 11
  • SUP 4: 3236.00/3229.00 Low Oct 3 / Low Nov 9 2020 (cont)

EUROSTOXX 50 futures maintain a firmer tone following the recent recovery from 3251.00, Oct 13 low. The move higher has resulted in a break of the 50-day EMA and resistance at 3492.00, the Oct 6 high and a bull trigger. Price has also arrived at a trendline resistance drawn from the Aug 17 high. The trendline intersects at 3490.40 and a clear break of this hurdle would strengthen bullish conditions. Initial firm support is at 3352.00, the Oct 14 low.

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.