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Euro STOXX 50 Future Firm Bounce Aims Up To 3269/72, Maybe 3290/91

Published 09/11/2014, 03:33 AM
Updated 12/12/2023, 05:55 AM

European benchmark recovery theme and bull pressures to resurface

A further dip to nudge through the trend line of support from mid-August (3235), but the subsequent bounce as expected, signal a resurfacing of bull risks for this week and through mid-month.

The strong rally of the DJ Euro Stoxx 50 from August that overcame important barriers at 3213/25 favours a better bounce from the trend line back to modest resistance at 3269/72 this week, maybe today.

We still see risk for a bullish extension, through 3291 and for a challenge to the cycle high at 3322 through mid-month.
Extension objectives are at 3342, 3359 and 3373.

WHAT CHANGES THIS?

Below 3201 eases bull risks; through 3167 signals a neutral tone, only shifting negative below 3137.


4 Hour Euro STOXX 50 September Future Chart

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