Daily Forecast - 12 March 2015
Eurostoxx March contract
EuroStoxx outlook remains positive despite overbought conditions with a break above first resistance at 3660/63 to target 3689/91. A high for the day is certainly possible here but be ready to go with a break higher to target resistance at 3711. If we continue higher however we can target 3732/34 then 3743/48 and perhaps as far as 3761/65 into next week. Just be aware that any further gains in the Bull trend target 3787 then 3798.
First support at 3640/38 but below here risks a slide to 3622 then good support at 3615/3612. Try longs with a stop below 3600. An unexpected break lower can target 3689/3685 then an excellent buying opportunity at 3666/61.
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