Eurostoxx Daily Forecast - 15 October 2018
Jason Sen | Oct 14, 2018 03:05AM ET
EURO STOXX 600 I should have spotted it last week but it is only visible on the monthly chart - an 18 year trend line joining the 2000 & 2007 peaks offered support at 3165/55 last week. SORRY!! Holding here in oversold conditions is a buy signal targeting minor resistance at 3195/3205 but 3225/35 is more of a challenge again. A break higher targets strong resistance at 3260/70. A high for the day likely but shorts need stops above 3285. If we continue higher look for a selling opportunity at 3315/25, with stops above 3335.
Strong support at 3165/55 is buying opportunity but below here meets good support at 3100/3080 from the price action from March to November 2016...also the 200 month MA. Below 3060 should trigger stops again to 3015.
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