Euro Stoxx 50 Futures Daily Forecast: Dec 5, 2019

Published 12/05/2019, 12:59 AM
Updated 07/09/2023, 06:31 AM
STOXX50
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Euro Stoxx 50 bottomed exactly at strong support at 3610/00. Longs worked perfectly on the bounce through 3622/25 and 3640/45 to 3666.

Euro Stoxx meets strong resistance at 3675/85. Shorts need stops above 3690. A break higher targets 2 month trend line resistance at 3718/22. Bulls obviously need a break above the November high at 3729.

First support at 3645/40 but below here targets 3625/20 before a retest of strong support at 3610/00. Obviously a break below 3590 is a sell signal targeting support at 3575/70. Try longs at 3545/35, with stops below 3520.

Trends

Weekly outlook is positive

Daily outlook is positive

Short Term outlook is neutral

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