EuroStoxx: A break below 3590 is a sell signal

Jason Sen DayTradeIdeas.co.uk

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

Author

Jason Sen

DayTradeIdeas.co.uk

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