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EuroSTOXX 50 Future Bull Bias Through 3138

Published 11/11/2014, 01:52 AM
Updated 12/12/2023, 05:55 AM

Euro Stoxx 50: European benchmark bullish risks intact

We looked for a digestion tone Monday and the modest rebound has reflected a resilient consolidation, though we also stated that “whilst above support at 3033 and better foundation at 3018, we see upside risks intact for midweek”.

The push last week above the 3113 peak and 3132 resistance factors leaves the bias still higher into midweek and mid-month to aim back to 3118 and 3138, then extension this week for a key chart/ retrace area at 3177/81.

Overshoot threat is still to 3227/28/32, maybe 3239 and even to the cycle high at 3293 into month-end.

WHAT CHANGES THIS?

Below 3033 eases bull risks; through 3018 signals a neutral tone, only shifting negative below 295.

Download full report, levels & screencast here:

4 Hour Euro STOXX 50 December Future Chart

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