EuroStoxx: holding below 3720 risks a slide to support at 3704
|Eurostoxx
EuroStoxx 50 December Futures
EuroStoxx unexpectedly collapsed from 3772 wiping out much of the gains for the day on Friday. The negative candle is not a sell signal but may signal more of a sideways direction. Bulls have not given up.
Daily Analysis
EuroStoxx retested & held the November high of 3725/29 on the correction so this remains key support. A bounce tests minor resistance at 3742/46. Above 3750 retests obvious resistance at 3769/72. A break higher targets 3786/90 & 3798/3802.
Holding below 3720 risks a slide to support at 3704/00. Try longs at 3685/75 with stops below 3665.
Trends
Weekly outlook is positive
Daily outlook is positive
Short Term outlook is neutral
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