Euro Stoxx 50 shorts at 2835/45 worked perfectly and we bottomed exactly at 2805/00. The second test just held below the stop and we sold off to 2812.
Today’s Analysis
Euro Stoxx minor resistance at 2835/38 then a selling opportunity at 2855/65; stops above 2875. A break higher targets 2890/93.
Shorts at 2855/65 target 2840/35 and minor support at 2805/00. Below 2790 look for 2767/62 with a break lower targeting 2750/45, with strong support at 2710/00. Longs need stops below 2680.
Trends
- Weekly outlook is negative
- Daily outlook is positive
- Short Term outlook is neutral