Technical forecast for Eurostoxx

stoxx2

Euro Stoxx got closer to 2768/62 support which held as hoped & we bounced from 2771. Resistance at 2810 then held the bounce & could do so again today with the outlook still negative.

Below 2800 look for 2889/86 & then 2768/62 which remains good support & could hold the downside again today. A break lower certainly cannot be ruled out though for a test of last week’s low & the March high at 2751/47. This should hold the downside but any longs need stops below 2740.

Above 2810 meets 2820 & a selling opportunity with stops above 2832 for a retest of this week’s high at 2846/49 & a very good chance of a top here again.

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