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Euro STOXX 50: Still Stalling Ahead Of Resistance

Published 09/03/2014, 02:46 AM
Updated 12/12/2023, 05:55 AM

EURO STOXX 50: European benchmark downside correction bias intact

We have repeated in our client reports from last week that “we still look for a cap at 3225 and for a roll back lower to the recovery range” and the bounce and another setback from ahead of 3204 (from 3200) leaves a defensive bias through midweek.

We now see risk to modest supports at 3153/51 and the Friday spike low at 3137 and maybe 3116.

The risk for the week is skewed for a deeper correction towards better supports at 3081 and 3063 for the week.

Only a move above 3225 shifts to a more bullish theme.

Download full report, levels and screencast here:

4 Hour Euro STOXX 50 September Future Chart

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