Technical forecast for Eurostoxx

stoxx

Euro Stoxx support at 2754/51. A low for the day is possible again but this level has weakened now so be ready to stop below 2740 for 2731/29. We cannot rule out a break lower to excellent support at 2705/00 for a buying opportunity.

Resistance at 2793/96 then again at 2803/05 with the daily chart still looking negative. Exit
longs & try shorts with stops above 2812. We then look for 2820, possibly a retest of 2832/38 highs.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More