Euro Stoxx: Failure To Hold Above 2993/98 Risks A Slide To 1st Support
Jason Sen | Aug 25, 2016 02:41AM ET
Euro Stoxx 50 holding above 2993/98 targets strong resistance at 3020/23. Try shorts with stops above 3032. A break higher targets strong longer term resistance at 3065/70. Try shorts with stops above 3090.
Failure to hold above 2993/98 risks a slide to first support at 2975/78 but this is only minor and further losses target 2 week lows at 2948 plus strong 100dma support at 2945/40 so this area is important for today.
Longs need stops below 2930. A break below here is another sell signal and targets 2895 then August lows at 2888.
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