EuroStoxx: A break below 3590 is a sell signal
|EuroStoxx 50 December Futures
EuroStoxx shorts at strong resistance at 3675/85 worked perfectly on the slide to 1st support at 3645/40 & we bottomed exactly here. Same levels apply for today.
Daily Analysis
EuroStoxx meets strong resistance again at 3675/85. Shorts need stops above 3690. A break higher targets 2 month trend line resistance & the November high at 3726/29. A weekly close above is an obvious buy signal for next week.
First support at 3645/40 held perfectly 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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