Technical forecast for Eurostoxx

stoxx4

Euro Stoxx Sep13 broke 2837 & eventually hit the target of 2806/02. We bottomed exactly here & bounced sharply but face resistance at 2838/41. We should turn lower from here to 2828/26 then 2817/15 before a retest of 2807/06. Any longs here today need stops below 2802 for 2793/90. A good chance of a bounce from here but a break lower could target 2775/72 for a buying opportunity.

If however we push back above 2846 there is a small gap to fill at 2853 before a retest of 2860 highs. Look for a selling opportunity here with stops above 2865 for 2883/93.

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