Free Trial

(Z3) Bullish Trend Structure

EUROSTOXX50 TECHS
  • RES 4: 4500.00 High 1
  • RES 3: 4446.00 High Aug 10
  • RES 2: 4407.40 76.4% retracement of the Jul 31 - Oct 27 bear leg
  • RES 1: 4391.00 High Nov 29
  • PRICE: 4390.00 @ 06:06 GMT Nov 30
  • SUP 1: 4298.50 20-day EMA
  • SUP 2: 4215.40 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. MA studies are in a bull-mode position signalling a rising cycle and the potential for a continuation higher. The focus is on 4388.00, the Aug 30 high. It has been pierced, a clear break of it would open 4400.00 and 4446.00, the Aug 10 high. Initial firm support to watch is at 4298.50, the 20-day EMA. Note that the trend condition is overbought, a move lower would allow this overbought reading to unwind.

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.