EuroStoxx: Watch For A High Today
Jason Sen | Nov 05, 2015 05:34AM ET
EuroStoxx 61.8% resistance from the April/August move lower and 200 day moving average at 3457/65 is the main challenge for bulls of course this week. Watch for a high for the day. However on a break higher we could target the next big challenge at 10 month trend line resistance at 3510/15. Shorts need stops above 3525.
Minor support at 3420/15 today, but below here risks a slide as far as better support at 3399/95. Further losses, however, could re-target 2 week lows at 3380/75. This ties in with 100 day moving average support, so is obviously important having held the downside so far. A break lower, therefore, is a sell signal targeting Fibonacci support at 3353/50.
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