LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 21-Nov | 0745 | FR | Manufacturing Sentiment |
| 21-Nov | 0800 | EU | ECB de Guindos Remarks/Q&A at Foro Gran Via |
| 21-Nov | 0815 | FR | S&P Global Manuf / Services PMI (p) |
| 21-Nov | 0830 | DE | S&P Global Manuf / Services PMI (p) |
| 21-Nov | 0830 | EU | ECB Lagarde Speech at European Banking Congress |
| 21-Nov | 0900 | EU | S&P Global Manuf / Serv / Comp PMI (p) |
| 21-Nov | 1000 | EU | Negotiated Wage Growth |
| 21-Nov | 1130 | EU | ECB de Guindos Remarks/Q&A at Deusto Business School |
| 22-Nov | 0800 | EU | ECB Lagarde in Roundtable at Austrian National Bank |
| 22-Nov | 1100 | EU | ECB Lagarde Keynote on Fiscal and MonPol |
| 24-Nov | 0900 | DE | IFO Business Climate Index |
| 24-Nov | 1100 | EU | ECB Cipollone at Cassa Depositi e Prestiti |
| 24-Nov | 1245 | EU | ECB Elderson Keynote on Climate & Supervision |
| 24-Nov | 1400 | BE | BNB Business Confidence |
| 24-Nov | 1445 | EU | ECB Lagarde Keynote on AI & Education |
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BRENT TECHS: (Z5) Short-Term Gains Considered Corrective
- RES 4: $76.82 - 2.382 proj of the Apr 9 - 23 - May 5 price swing
- RES 3: $75.43 - High Jun 23 and a bull trigger
- RES 2: $69.87/71.20 - High Sep 26 / High Jul 30 and key resistance
- RES 1: $65.19 - 50-day EMA
- PRICE: $62.34 @ 07:07 BST Oct 22
- SUP 1: $60.00 - Psychological round number
- SUP 2: $58.50 - Low May 5
- SUP 3: $57.88 - Low Apr 9 and a key support
- SUP 4: $55.91 - 2.00 proj of the Jul 30 - Aug 13 - Sep 26 price swing
The trend structure in Brent futures remains bearish and last week’s extension reinforces current conditions. Furthermore, moving average studies are in a bear-mode position, highlighting a dominant downtrend. Sights are on the psychological $60.00 handle where a break would open $58.50, the May 5 low. Initial firm resistance is seen at $65.19, the 50-day EMA. Short-term gains are considered corrective.
BTP TECHS: (Z5) Trend Set-Up Still Bullish
- RES 4: 123.14 1.764 proj of the Sep 3 - 11 - 25 price swing
- RES 3: 122.81 1.618 proj of the Sep 3 - 11 - 25 price swing
- RES 2: 122.53 1.500 proj of the Sep 3 - 11 - 25 price swing
- RES 1: 122.00 Round number resistance
- PRICE: 121.80 @ Close Oct 21
- SUP 1: 121.22 Low Oct 15
- SUP 2: 120.71 20-day EMA
- SUP 3: 119.48 Low Oct 7
- SUP 4: 119.07 Low Sep 25t
BTP futures remain in a bull cycle and recent gains reinforce current conditions. The latest rally has resulted in a break of key resistance at 120.74, the Aug 5 high and a bull trigger. The breach also highlights a range breakout. Sights are on the 122.00 handle next. Initial firm support to watch is 120.74, the Aug 5 high. The contract is overbought, a pullback would allow this condition to unwind.
EUROSTOXX50 TECHS: (Z5) Bullish Price Sequence
- RES 4: 5800.00 Round number resistance
- RES 3: 5777.41 1.382 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 2: 5727.18 1.236 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 1: 5717.00 High Oct 21
- PRICE: 5678.00 @ 06:52 BST Oct 22
- SUP 1: 5596.71 20-day EMA
- SUP 2: 5514.13 50-day EMA
- SUP 3: 5423.00 Low Sep 25
- SUP 4: 5366.00 Low Sep 17
The trend direction in Eurostoxx 50 futures is up and This week’s gains reinforce this theme. The breach of 5689.00, the Oct 2 high and bull trigger, confirms a resumption of the uptrend. This maintains the price sequence of higher highs and higher lows and note that MA studies are in a bull-mode position, highlighting a dominant M/T uptrend. Sights are on 5727.18, a Fibonacci projection. First support lies at 5596.71, the 20-day EMA.
