Eurostoxx 50 future: Tightening in daily volatility should prevent from rallying too much - Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that the tightening in the daily volatility of Eurostoxx 50 future should prevent the contract from rallying too much in the next days.

Key Quotes

“Against this backdrop, a return above the 3360 resistance (daily Bollinger upper band) sounds unlikely and we rather anticipate a decline to 3295 (daily Bollinger moving average) ahead of the supports at 3270-3277 (daily parabolic).”

“We’ll be careful as a drop below these last levels would suggest a deeper decline to 3226 (daily Bollinger lower band) ahead of the 3195 threshold (weekly Bollinger moving average).”

“The resistances stand at 3360-3368, at 3389-3403 and at 3431-3452.”