Steve Miley, MSTA
MarketChartist
European benchmark targets 3126 retrace and below for 3090/85 and 3073
Activity still just within last Thursday's breakdown range, matching the low at 3130 on Monday to maintain negative pressures into this week.
Whilst capped by 3212 we see risk this week skewed for a renewal of bearish pressures given the prior push below the 3207 late June low, the retrace at 3200 and bull gap at 3196-92.
We still see threat back through 3130, to the 61.8% retrace at 3126 and below here aims for 3090/85 and 3073 targets.
July overshoot risk is to 3005!
WHAT CHANGES THIS?
- Above 3190 eases bear risks; through 3212 signals a neutral tone, only shifting positive above 3291.
4 Hour Euro STOXX 50 Future Chart
Daily Euro STOXX 50 Future (Adjusted Continuation) Chart
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