Free Trial

(Z3) Bull Cycle Extension

  • RES 4: 4533.00 High Jul 31
  • RES 3: 4500.00 High 1
  • RES 2: 4446.00 High Aug 10
  • RES 1: 4419.00 Intraday high
  • PRICE: 4409.00 @ 06:25 GMT Dec 1
  • SUP 1: 4307.30 20-day EMA
  • SUP 2: 4257.00 50-day EMA
  • SUP 3: 4185.00 Low Nov 9 and 10
  • SUP 4: 4143.00 Low Nov 8

A bullish theme in Eurostoxx 50 futures remains intact. The contract traded higher Thursday and breached 4387.00, the Nov 24 high. The break confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode position signalling a rising cycle. The focus is on 4446.00, the Aug 10 high. Initial firm support to watch is at 4307.30, the 20-day EMA.

To read the full story



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.