EuroStoxx 50 Daily Forecast: 18 December, 2019

Published 12/18/2019, 03:15 AM
Updated 07/09/2023, 06:31 AM
STOXX50
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EuroStoxx 50 likely to trade sideways to ease overbought conditions. We bottomed exactly at the next downside target and support at 3750/45.

EuroStoxx broke minor support at 3764/62 & then held this level on the bounce from better support at 3750/45. Try longs at 3732/28, with stops below 3720. Next target & support at 3700/3690. Try longs with stops below 3680.

Resistance at 3770/3777. A break higher today targets 3786/90 & 3798/3802.

Trends

Weekly outlook is positive

Daily outlook is positive

Short Term outlook is neutral

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