Euro Stoxx Bears Could Be Back In Control
Jason Sen | Jul 26, 2016 05:20AM ET
Euro Stoxx 50 failure to beat important trend line resistance could start to put bears back in control now. We are overbought and risks are increasing to the downside. Minor support at 2964/60 but below here targets better support at 2945/41. This should be the best chance of a low for the day, but therefore a break lower is a sell signal and targets 2915/11.
Trend line resistance at 2985/89 is the main challenge for bulls today. Try shorts with stops above 2997. A break higher is a short-term buy signal and really there is little to stop us targeting a truly excellent selling opportunity at 3055/65.
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