Eurostoxx: Longs Need Stops Below Last Week's Low At 3534
Jason Sen | Jun 07, 2017 08:56AM ET
Euro Stoxx opened at 3565/63 and sold off to good support at 3546/42 to bottom 4 ticks below. Longs need stops below last week's low at 3534 and a break below the 2 week low at 3530 targets the May low at 3507. There is reasonable support down to 3500 for profit taking on shorts but longs look too risky. I would not rule out a dip as far as 3485/80.
Holding above 3545 allows a recovery to towards first resistance at 3565/63. Above 3570 targets 3579/80 and a small gap to fill at 3592. Above here, last week's high at 3610 is the level to beat of course to test the mid-May high at 3626/29. On further gains this week look for a test of the high this year at 3645/47.
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