Free Trial

(Z3) Heading North

EUROSTOXX50 TECHS
  • RES 4: 4446.00 High Aug 10
  • RES 3: 4407.40 76.4% retracement of the Jul 31 - Oct 27 bear leg
  • RES 2: 4388.00 High Aug 30
  • RES 1: 4366.00 High Nov 20
  • PRICE: 4359.00 @ 06:08 GMT Nov 21
  • SUP 1: 4256.00 High Oct 12 and a recent breakout level
  • SUP 2: 4228.90/4143.00 20-day EMA / Low Nov 8
  • SUP 3: 4063.00 Low Nov 1
  • SUP 4: 4001.00 Low Oct 27 and bear trigger

A short-term bull cycle in Eurostoxx 50 futures remains intact and the contract continues to appreciate. Price has recently cleared resistance at both the 20- and 50-day EMAs - a bullish development. Note that last Tuesday’s gains resulted in a breach of resistance at 4256.00, the Oct 12 high, reinforcing the bullish theme The focus is on 4388.00, the Aug 30 high. Initial firm support to watch is at 4228.90, the 20-day EMA.

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.