DJ Euro Stoxx 50: European benchmark aims lower for 3207, 3200 and 3196-92
We stated in our last report to our clients that “we do not anticipate a new setback low into this week, but do see risk for a roll back lower from ahead of 3305, to aim for modest rebound supports at 3249 and maybe 3238”.
The push through all of these supports, now does see risk for a new setback low, with the focus no on support at 3218, ahead of the 3207 low.
The threat below here would then be to challenge the key retrace at 32000 and the bull gap at 3196-92.
WHAT CHANGES THIS?
Above 3271 eases bear risks; through 3291 signals a neutral tone, only shifting positive above 3322.
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